Waystar (NASDAQ:WAY) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Waystar (NASDAQ:WAY) from a hold rating to a buy rating in a research note released on Saturday.

Other equities research analysts have also recently issued research reports about the company. Leerink Partners started coverage on Waystar in a research note on Monday, February 2nd. They issued an “outperform” rating and a $43.00 price target for the company. UBS Group assumed coverage on shares of Waystar in a research note on Monday, December 15th. They issued a “buy” rating and a $41.00 target price for the company. Barclays decreased their target price on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. Mizuho set a $42.00 price target on shares of Waystar in a report on Wednesday. Finally, Needham & Company LLC initiated coverage on shares of Waystar in a report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $45.87.

Waystar Price Performance

WAY opened at $24.30 on Friday. The stock has a fifty day moving average price of $31.11 and a 200 day moving average price of $34.86. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. Waystar has a 1 year low of $23.23 and a 1 year high of $48.11. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 0.31 and a beta of 0.75.

Insiders Place Their Bets

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $36.12, for a total transaction of $311,462.76. Following the sale, the chief technology officer directly owned 422,371 shares of the company’s stock, valued at approximately $15,256,040.52. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $30.08, for a total value of $1,209,968.00. Following the completion of the transaction, the insider directly owned 474,826 shares of the company’s stock, valued at approximately $14,282,766.08. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 80,273 shares of company stock worth $2,569,997 over the last quarter. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Munro Partners increased its position in Waystar by 107.5% in the third quarter. Munro Partners now owns 178,890 shares of the company’s stock worth $6,784,000 after purchasing an additional 92,695 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of Waystar in the 3rd quarter valued at about $4,002,000. Thrivent Financial for Lutherans grew its position in shares of Waystar by 2,923.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 882,427 shares of the company’s stock worth $33,461,000 after buying an additional 853,239 shares during the period. Oak Ridge Investments LLC bought a new stake in shares of Waystar during the third quarter worth approximately $2,139,000. Finally, Louisiana State Employees Retirement System acquired a new position in Waystar in the third quarter valued at approximately $1,703,000.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.