Waystar's (WAY) "Outperform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed Waystar’s “Outperform” rating and maintained a $44 price target, implying approximately 72% upside from the reported share price of $25.56.
• Analyst sentiment remains favorable, with Waystar receiving an overall “Moderate Buy” rating and an average price target of $35.39; recent quarterly results also exceeded expectations, including $0.43 adjusted EPS and $319.67 million in revenue.
• Waystar shares rose to $25.56 during Thursday trading, while CEO Matthew Hawkins sold 60,038 shares for roughly $1.5 million under a pre-arranged Rule 10b5-1 trading plan.

Waystar (NASDAQ:WAY - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank Of Canada in a research note issued on Thursday,Benzinga reports. They currently have a $44.00 price objective on the stock. Royal Bank Of Canada's target price indicates a potential upside of 72.15% from the company's current price.

WAY has been the subject of a number of other research reports. Wall Street Zen cut Waystar from a "buy" rating to a "hold" rating in a research report on Sunday, May 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $39.00 price objective on shares of Waystar in a research report on Friday, July 31st. Needham & Company LLC reissued a "buy" rating and issued a $33.00 target price on shares of Waystar in a report on Wednesday. Wolfe Research raised shares of Waystar to an "outperform" rating in a report on Thursday, August 13th. Finally, Citigroup restated a "buy" rating on shares of Waystar in a research note on Monday, July 20th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Waystar presently has an average rating of "Moderate Buy" and an average price target of $35.39.

Waystar Stock Performance

Shares of WAY stock traded up $1.39 during mid-day trading on Thursday, reaching $25.56. 348,478 shares of the company's stock traded hands, compared to its average volume of 2,666,080. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $4.90 billion, a PE ratio of 36.34, a price-to-earnings-growth ratio of 0.94 and a beta of 0.06. Waystar has a 12 month low of $17.26 and a 12 month high of $41.47. The firm has a 50 day moving average price of $22.58 and a two-hundred day moving average price of $22.66.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $319.67 million for the quarter, compared to analysts' expectations of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.Waystar's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, research analysts forecast that Waystar will post 1.47 EPS for the current year.

Insider Buying and Selling at Waystar

In other news, CEO Matthew J. Hawkins sold 60,038 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was 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 $45,895,375.81. This represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAY. Root Financial Partners LLC raised its position in shares of Waystar by 6,475.0% during the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company's stock valued at $25,000 after buying an additional 1,036 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Waystar by 6,005.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company's stock worth $38,000 after acquiring an additional 1,141 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Waystar by 3,219.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock valued at $57,000 after acquiring an additional 1,352 shares in the last quarter. Essential Partners LLC increased its holdings in Waystar by 1,432.7% in the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company's stock valued at $37,000 after acquiring an additional 1,447 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in Waystar in the 4th quarter worth $52,000.

About Waystar

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.

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