Waystar (NASDAQ:WAY) Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Waystar (NASDAQ:WAY) from a hold rating to a buy rating in a research report report published on Friday morning.

A number of other equities research analysts have also recently weighed in on WAY. TD Cowen upgraded Waystar to a “strong-buy” rating in a report on Thursday, June 5th. Truist Financial upped their price target on Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Weiss Ratings restated a “hold (c)” rating on shares of Waystar in a report on Saturday, September 27th. Baird R W upgraded Waystar to a “strong-buy” rating in a report on Friday, September 5th. Finally, JMP Securities initiated coverage on Waystar in a report on Thursday, September 18th. They set a “market outperform” rating and a $48.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $45.14.

Waystar Stock Performance

Shares of WAY stock opened at $38.64 on Friday. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 80.50, a price-to-earnings-growth ratio of 0.71 and a beta of 0.69. The stock has a 50 day simple moving average of $36.92 and a 200-day simple moving average of $37.79. Waystar has a 12-month low of $26.85 and a 12-month high of $48.11. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, equities analysts forecast that Waystar will post 0.39 EPS for the current year.

Insider Buying and Selling at Waystar

In other news, CEO Matthew J. Hawkins sold 12,800 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $38.08, for a total transaction of $487,424.00. Following the sale, the chief executive officer owned 717,474 shares in the company, valued at $27,321,409.92. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $40.49, for a total value of $349,145.27. Following the sale, the chief technology officer owned 422,371 shares in the company, valued at $17,101,801.79. This trade represents a 2.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,677,917 shares of company stock valued at $182,939,156. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WAY. Central Pacific Bank Trust Division purchased a new stake in shares of Waystar during the second quarter worth about $33,000. Nisa Investment Advisors LLC grew its stake in Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after purchasing an additional 358 shares in the last quarter. State of Wyoming acquired a new position in Waystar in the first quarter worth about $54,000. EverSource Wealth Advisors LLC grew its stake in Waystar by 3,219.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $57,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Quarry LP acquired a new position in Waystar in the first quarter worth about $60,000.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.