Analysts Set Waystar Holding Corp. (NASDAQ:WAY) PT at $35.00

Shares of Waystar Holding Corp. (NASDAQ:WAY) have earned a consensus rating of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.00.

Several brokerages recently issued reports on WAY. Wall Street Zen lowered Waystar from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Citigroup reissued a “buy” rating on shares of Waystar in a report on Monday, July 20th. UBS Group dropped their price target on Waystar from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $39.00 price objective on shares of Waystar in a report on Friday, July 31st. Finally, Wells Fargo & Company decreased their price objective on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th.

Insider Activity

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the completion of the transaction, the chief executive officer owned 1,835,081 shares of the company’s stock, valued at approximately $45,895,375.81. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Waystar

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Waystar by 23.1% in the 2nd quarter. Wellington Management Group LLP now owns 793,481 shares of the company’s stock worth $16,290,000 after acquiring an additional 148,846 shares during the last quarter. Empowered Funds LLC purchased a new stake in Waystar during the 2nd quarter valued at about $259,000. Jefferies Financial Group Inc. acquired a new position in shares of Waystar in the second quarter valued at about $613,000. Corient Private Wealth LP purchased a new position in shares of Waystar in the second quarter worth about $1,222,000. Finally, PointState Capital LP purchased a new position in shares of Waystar in the second quarter worth about $21,156,000.

Waystar Price Performance

NASDAQ WAY opened at $24.84 on Friday. The firm’s fifty day simple moving average is $22.08 and its two-hundred day simple moving average is $22.66. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. Waystar has a 12-month low of $17.26 and a 12-month high of $41.47. The firm has a market capitalization of $4.76 billion, a P/E ratio of 35.49, a P/E/G ratio of 0.97 and a beta of 0.06.

Waystar (NASDAQ:WAY) last issued 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 during the quarter, compared to analyst estimates of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 EPS. Analysts forecast that Waystar will post 1.47 EPS for the current fiscal year.

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.