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

Key Points

• Analyst sentiment is generally positive: Twenty-four analysts give Waystar a consensus “Moderate Buy” rating, with an average 12-month price target of $34.67 versus the stock’s $24.81 opening price.
• Recent results exceeded expectations: Waystar reported quarterly earnings of $0.43 per share against a $0.40 estimate, while revenue reached $319.67 million and grew 18.1% year over year.
• Insiders have been selling shares: CEO Matthew Hawkins sold 82,500 shares for about $2.14 million under a pre-arranged Rule 10b5-1 plan, while institutional investors including Wellington Management increased their holdings.

Shares of Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-four ratings firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $34.67.

Several research analysts recently commented on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Waystar in a research note on Thursday, August 27th. Morgan Stanley restated an "equal weight" rating and issued a $28.00 target price on shares of Waystar in a research note on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $39.00 target price on shares of Waystar in a research note on Friday, July 31st. Barclays downgraded shares of Waystar from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $27.00 to $30.00 in a research note on Tuesday, September 15th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Waystar in a report on Tuesday, September 15th.

Insiders Place Their Bets

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $25.97, for a total value of $2,142,525.00. Following the completion of the sale, the chief executive officer directly owned 1,804,794 shares in the company, valued at approximately $46,870,500.18. This represents a 4.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 165,000 shares of company stock worth $4,206,524. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Waystar

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC raised its holdings in shares of Waystar by 127.1% in the second quarter. Tidal Investments LLC now owns 29,070 shares of the company's stock valued at $597,000 after acquiring an additional 16,270 shares in the last quarter. WINTON GROUP Ltd bought a new position in Waystar during the 2nd quarter worth about $3,488,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Waystar during the 2nd quarter valued at about $292,000. Wedmont Private Capital purchased a new position in Waystar during the 2nd quarter valued at about $1,292,000. Finally, Wellington Management Group LLP raised its holdings in shares of Waystar by 23.1% in the 2nd quarter. Wellington Management Group LLP now owns 793,481 shares of the company's stock valued at $16,290,000 after purchasing an additional 148,846 shares in the last quarter.

Waystar Stock Performance

Shares of Waystar stock opened at $24.81 on Monday. The stock's fifty day moving average is $24.67 and its two-hundred day moving average is $22.75. The company has a market capitalization of $4.76 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.18. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. Waystar has a 52 week low of $17.26 and a 52 week high of $40.35.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $319.67 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.36 earnings per share. As a group, analysts expect that Waystar will post 1.47 earnings per share for the current 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.

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