Waystar Holding Corp. (NASDAQ:WAY) Stock Has Consensus Target Price of $34.90

Shares of Waystar Holding Corp. (NASDAQ:WAY) have been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $35.23.

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Waystar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Truist Financial raised their target price on shares of Waystar from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Waystar in a research note on Monday, July 20th. Wolfe Research raised shares of Waystar to an “outperform” rating in a research note on Thursday, August 13th. Finally, Wells Fargo & Company reduced their price target on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, July 30th.

Waystar Stock Performance

WAY stock opened at $28.88 on Friday. The business’s 50-day moving average price is $26.48 and its two-hundred day moving average price is $23.95. The company has a current ratio of 2.10, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. The firm has a market cap of $5.56 billion, a PE ratio of 41.86, a P/E/G ratio of 1.20 and a beta of 0.11. Waystar has a 1-year low of $17.26 and a 1-year high of $37.51.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. Waystar had a return on equity of 6.91% and a net margin of 10.70%. The company had revenue of $325.62 million during the quarter, compared to the consensus estimate of $323.43 million. During the same period in the prior year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, research analysts forecast that Waystar will post 1.47 earnings per share for the current year.

Insider Activity at Waystar

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

Hedge Funds Weigh In On Waystar

A number of large investors have recently added to or reduced their stakes in the company. WoodTrust Financial Corp raised its stake in shares of Waystar by 262.9% in the 3rd quarter. WoodTrust Financial Corp now owns 57,700 shares of the company’s stock valued at $1,462,000 after purchasing an additional 41,800 shares during the period. Jupiter Topco LLC bought a new stake in shares of Waystar in the second quarter valued at about $58,960,000. Clarkston Capital Partners LLC acquired a new position in shares of Waystar during the first quarter worth about $22,917,000. Bain Capital Venture Investors LLC acquired a new position in shares of Waystar during the second quarter worth about $18,127,271. Finally, Hsbc Holdings PLC acquired a new position in shares of Waystar during the first quarter worth about $5,625,000.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software designed to simplify administrative and financial processes across the healthcare industry. Its platform connects healthcare providers, health plans and patients, helping organizations manage revenue cycle operations and improve the flow of information and payments.

The company’s products and services include electronic claims management, eligibility and benefits verification, prior authorization, payment integrity, denial management, patient estimates and payments, billing automation, and healthcare analytics.