Waystar (NASDAQ:WAY) Now Covered by Analysts at JMP Securities

Key Points

• JMP Securities has initiated coverage on Waystar (NASDAQ:WAY) with a strong market outperform rating and a price target of $48.00, indicating a potential upside of 24.38% from its current price.
• Other analysts, including Citigroup and Truist Financial, have also set positive ratings and price targets, contributing to an average target price of $44.92 for the stock.
• Waystar reported better-than-expected quarterly earnings with a Earnings Per Share (EPS) of $0.36, exceeding analysts' estimates and showing a year-over-year revenue increase of 15.4%.

Investment analysts at JMP Securities initiated coverage on shares of Waystar (NASDAQ:WAY - Get Free Report) in a research note issued on Thursday, MarketBeat.com reports. The firm set a "market outperform" rating and a $48.00 price target on the stock. JMP Securities' target price would indicate a potential upside of 27.51% from the company's current price.

Several other equities analysts have also recently commented on the company. Robert W. Baird assumed coverage on Waystar in a research report on Friday, September 5th. They set an "outperform" rating and a $44.00 target price for the company. Mizuho initiated coverage on Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price objective for the company. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Citigroup initiated coverage on shares of Waystar in a research note on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target on the stock. Finally, Truist Financial lifted their price target on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Three analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $45.14.

Waystar Stock Performance

Shares of Waystar stock traded down $0.16 during trading hours on Thursday, reaching $37.64. The company had a trading volume of 1,067,202 shares, compared to its average volume of 2,069,945. Waystar has a one year low of $26.56 and a one year high of $48.11. The business has a fifty day simple moving average of $36.81 and a 200 day simple moving average of $37.73. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a market cap of $6.56 billion, a PE ratio of 78.53, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The firm had revenue of $270.65 million during the quarter, compared to analyst estimates of $255.26 million. During the same period last year, the company earned $0.04 earnings per share. The business's revenue for the quarter was up 15.4% on a year-over-year basis. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, analysts anticipate that Waystar will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Paul G. Moskowitz sold 4,295,139 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $39.21, for a total transaction of $168,412,400.19. Following the completion of the transaction, the director owned 13,759,910 shares in the company, valued at $539,526,071.10. This trade represents a 23.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 19,404 shares of Waystar stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $40.03, for a total value of $776,742.12. Following the completion of the transaction, the insider owned 474,826 shares of the company's stock, valued at approximately $19,007,284.78. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,652,918 shares of company stock worth $182,012,322 in the last quarter. Company insiders own 4.10% of the company's stock.

Institutional Trading of Waystar

Institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in shares of Waystar by 3,883.4% during the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company's stock valued at $133,601,000 after acquiring an additional 3,186,869 shares in the last quarter. Vanguard Group Inc. grew its holdings in Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock worth $302,263,000 after purchasing an additional 3,099,211 shares during the last quarter. Invesco Ltd. grew its holdings in Waystar by 9,107.1% in the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock worth $76,225,000 after purchasing an additional 2,018,125 shares during the last quarter. Norges Bank purchased a new position in Waystar in the second quarter worth $46,577,000. Finally, Ameriprise Financial Inc. boosted its holdings in Waystar by 721.4% in the first quarter. Ameriprise Financial Inc. now owns 1,202,340 shares of the company's stock valued at $44,919,000 after purchasing an additional 1,055,965 shares during the last quarter.

Waystar Company Profile

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.