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

Shares of Waystar Holding Corp. (NASDAQ:WAY) have earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, Marketbeat.com reports. Four research 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 1 year price target among brokerages that have issued a report on the stock in the last year is $34.67.

A number of research analysts recently commented on WAY shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $28.00 price target on shares of Waystar in a research note on Wednesday, September 16th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Waystar in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $39.00 price objective on shares of Waystar in a research note on Friday, July 31st. Barclays lowered shares of Waystar from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $27.00 to $30.00 in a report on Tuesday, September 15th. Finally, Truist Financial dropped their target price on shares of Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 13th.

Insider Buying and Selling at Waystar

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WAY. Canada Pension Plan Investment Board bought a new stake in Waystar during the second quarter worth $390,593,000. BlackRock Inc. bought a new position in shares of Waystar in the 2nd quarter valued at $357,950,000. Advent International L.P. bought a new position in shares of Waystar in the 2nd quarter valued at $227,060,000. Jupiter Topco LLC bought a new position in shares of Waystar in the 2nd quarter valued at $58,960,000. Finally, Bank of America Corp DE acquired a new position in shares of Waystar during the 2nd quarter worth $53,031,000.

Waystar Price Performance

Shares of NASDAQ WAY opened at $26.68 on Monday. The business has a fifty day moving average price of $25.04 and a two-hundred day moving average price of $22.81. The stock has a market capitalization of $5.12 billion, a PE ratio of 38.11, a P/E/G ratio of 1.04 and a beta of 0.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.85 and a quick ratio of 1.85. Waystar has a fifty-two week low of $17.26 and a fifty-two week high of $40.35.

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

Waystar Company Profile

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.