Waystar Holding Corp. (NASDAQ:WAY) Stock Has Consensus Target Price of $34.67 According to Brokerages

Waystar Holding Corp. (NASDAQ:WAY) has earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.67.

WAY has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 target price on shares of Waystar in a report on Wednesday, September 16th. BMO Capital Markets restated an “outperform” rating on shares of Waystar in a research report on Thursday, August 27th. Weiss Ratings upgraded Waystar from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Wolfe Research raised Waystar to an “outperform” rating in a research report on Thursday, August 13th. Finally, Barclays lowered Waystar from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $27.00 to $30.00 in a research note on Tuesday, September 15th.

Insider Buying and Selling

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $26.23, for a total value of $2,163,975.00. Following the transaction, the chief executive officer directly owned 1,804,794 shares of the company’s stock, valued at $47,339,746.62. This represents a 4.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 247,500 shares of company stock valued at $6,370,499. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Waystar

A number of institutional investors have recently modified their holdings of the business. Jupiter Topco LLC acquired a new stake in Waystar in the 2nd quarter worth about $58,960,000. Clarkston Capital Partners LLC acquired a new position in shares of Waystar during the 1st quarter worth approximately $22,917,000. Bain Capital Venture Investors LLC acquired a new position in shares of Waystar during the 2nd quarter worth approximately $18,127,271. Hsbc Holdings PLC bought a new position in shares of Waystar during the first quarter worth approximately $5,625,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Waystar during the second quarter worth approximately $43,314,000.

Waystar Trading Up 0.8%

WAY stock opened at $26.68 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. The company has a fifty day moving average price of $25.04 and a two-hundred day moving average price of $22.83. Waystar has a one year low of $17.26 and a one year high of $40.35. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 1.03 and a beta of 0.18.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. Equities analysts anticipate that Waystar will post 1.47 EPS for the current year.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software for managing healthcare payments and revenue cycle operations. Its platform connects healthcare providers, payers and patients to help streamline administrative and financial workflows across the healthcare system.

The company’s products and services include eligibility and benefits verification, claims management and submission, prior authorization, payment processing, patient billing, denial management and revenue cycle analytics.