Waystar’s (WAY) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Waystar (NASDAQ:WAY) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $33.00 target price on the stock.

WAY has been the subject of a number of other research reports. Bank of America cut their price objective on Waystar from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 10th. UBS Group set a $34.00 target price on Waystar in a research report on Monday, July 20th. Raymond James Financial reissued a “strong-buy” rating and set a $32.00 price target on shares of Waystar in a research note on Thursday, April 30th. Weiss Ratings cut Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Finally, Wall Street Zen cut Waystar from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Waystar presently has an average rating of “Moderate Buy” and a consensus target price of $35.14.

Waystar Price Performance

Shares of NASDAQ:WAY opened at $21.11 on Thursday. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 0.83 and a beta of 0.08. The firm has a fifty day moving average price of $20.80 and a 200 day moving average price of $23.20. Waystar has a fifty-two week low of $17.26 and a fifty-two week high of $41.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.76 and a current ratio of 1.85.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The company 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%. Waystar’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, sell-side analysts expect that Waystar will post 1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waystar

Institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its position in shares of Waystar by 52.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 37,300 shares of the company’s stock valued at $766,000 after buying an additional 12,800 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Waystar by 32.4% in the 2nd quarter. Central Pacific Bank Trust Division now owns 10,820 shares of the company’s stock valued at $222,000 after acquiring an additional 2,650 shares during the last quarter. City Center Advisors LLC grew its position in Waystar by 43.6% in the second quarter. City Center Advisors LLC now owns 14,545 shares of the company’s stock worth $299,000 after acquiring an additional 4,417 shares in the last quarter. Essential Partners LLC grew its position in Waystar by 1,432.7% in the first quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock worth $37,000 after acquiring an additional 1,447 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Waystar by 61.8% during the first quarter. Bank of America Corp DE now owns 2,065,258 shares of the company’s stock worth $49,793,000 after acquiring an additional 789,132 shares during the last quarter.

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.