Waystar Holding Corp. (NASDAQ:WAY) Receives Consensus Recommendation of “Buy” from Analysts

Waystar Holding Corp. (NASDAQ:WAY) has been assigned an average recommendation of “Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $40.75.

Several research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Jefferies Financial Group assumed coverage on shares of Waystar in a report on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price on the stock. Truist Financial assumed coverage on shares of Waystar in a report on Friday, March 14th. They set a “buy” rating and a $45.00 target price on the stock. Barclays increased their target price on shares of Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Bank of America increased their target price on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th.

Insider Activity at Waystar

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the transaction, the chief marketing officer now directly owns 43,478 shares of the company’s stock, valued at $1,832,597.70. This trade represents a 7.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of the transaction, the insider now directly owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. The trade was a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,356,171 shares of company stock valued at $526,733,651 in the last three months.

Hedge Funds Weigh In On Waystar

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in Waystar during the 4th quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC purchased a new position in Waystar during the 4th quarter worth approximately $48,000. Gen Wealth Partners Inc purchased a new position in Waystar during the 4th quarter worth approximately $92,000. RiverPark Advisors LLC raised its position in Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock worth $128,000 after buying an additional 710 shares during the last quarter. Finally, Pictet Asset Management Holding SA purchased a new position in Waystar during the 4th quarter worth approximately $237,000.

Waystar Stock Up 6.3 %

NASDAQ WAY opened at $37.52 on Thursday. The company’s 50-day moving average price is $39.67 and its 200-day moving average price is $34.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. Waystar has a 12 month low of $20.26 and a 12 month high of $48.11.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The company had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. As a group, sell-side analysts expect that Waystar will post 0.39 earnings per share for the current year.

About Waystar

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