Waystar’s (WAY) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Waystar (NASDAQ:WAY) in a research note released on Thursday,Benzinga reports. They currently have a $44.00 price target on the stock.

Several other research analysts have also commented on the company. Truist Financial dropped their price target on Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. UBS Group lowered their price objective on Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company lowered their price objective on Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Citigroup reiterated a “buy” rating on shares of Waystar in a report on Monday, July 20th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $32.00 target price on shares of Waystar in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.39.

Waystar Price Performance

WAY stock opened at $26.24 on Thursday. Waystar has a 52 week low of $17.26 and a 52 week high of $41.47. The firm has a market capitalization of $5.03 billion, a P/E ratio of 37.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.06. The company has a fifty day simple moving average of $22.87 and a two-hundred day simple moving average of $22.69. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The firm had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. Waystar had a net margin of 11.18% and a return on equity of 7.03%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Analysts anticipate that Waystar will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthew J. Hawkins sold 60,038 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the transaction, the chief executive officer directly owned 1,835,081 shares in the company, valued at approximately $45,895,375.81. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Waystar during the second quarter valued at approximately $292,000. California State Teachers Retirement System lifted its stake in shares of Waystar by 1,898.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,813,062 shares of the company’s stock worth $57,752,000 after acquiring an additional 2,672,333 shares during the last quarter. Wedmont Private Capital bought a new stake in shares of Waystar during the 2nd quarter worth approximately $1,292,000. Wellington Management Group LLP boosted its holdings in Waystar by 23.1% during the 2nd quarter. Wellington Management Group LLP now owns 793,481 shares of the company’s stock valued at $16,290,000 after acquiring an additional 148,846 shares during the period. Finally, Empowered Funds LLC purchased a new position in Waystar during the 2nd quarter valued at $259,000.

Waystar Company Profile

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.