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

Key Points

• Analyst sentiment is moderately bullish: Twenty-three analysts give Waystar a consensus “Moderate Buy” rating, with an average 12-month price target of $34.90.
• Waystar reported better-than-expected quarterly results: Earnings per share reached $0.43 versus the $0.40 estimate, while revenue rose 18.1% year over year to $319.67 million.
• Shares recently traded at $28.21, down 2.5%: The stock remains below its 12-month high of $39.40, while CEO Matthew Hawkins and other insiders sold 247,500 shares worth approximately $6.37 million over the past quarter.

Shares of Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-three analysts that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $34.90.

WAY has been the subject of a number of recent research reports. Weiss Ratings upgraded Waystar from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Wells Fargo & Company decreased their price target on shares of Waystar from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Canaccord Genuity Group boosted their price target on shares of Waystar from $30.00 to $33.00 and gave the company a "buy" rating in a report on Monday, August 31st. Morgan Stanley restated an "equal weight" rating and issued a $28.00 price objective on shares of Waystar in a research note on Wednesday, September 16th. Finally, Needham & Company LLC restated a "buy" rating and issued a $33.00 price objective on shares of Waystar in a research note on Wednesday, August 26th.

Insiders Place Their Bets

In related news, CEO Matthew Hawkins sold 82,500 shares of the company's stock in a transaction dated 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 owned 1,804,794 shares of the company's stock, valued at $47,339,746.62. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 247,500 shares of company stock valued at $6,370,499 over the last quarter. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Waystar

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

Waystar Trading Down 2.5%

Waystar stock opened at $28.21 on Friday. The business has a 50 day moving average price of $26.10 and a two-hundred day moving average price of $24.00. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 40.30, a price-to-earnings-growth ratio of 1.13 and a beta of 0.18. Waystar has a 12 month low of $17.26 and a 12 month high of $39.40.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $319.67 million for 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%. Waystar's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. As a group, equities analysts forecast that Waystar will post 1.47 EPS for the current year.

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.

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