Analysts Set Waystar Holding Corp. (NASDAQ:WAY) Target Price at $40.50

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) has received an average recommendation of "Buy" from the thirteen brokerages that are currently covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $40.50.

A number of analysts have recently issued reports on WAY shares. Jefferies Financial Group assumed coverage on Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target for the company. The Goldman Sachs Group upped their target price on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Canaccord Genuity Group lowered their price target on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays dropped their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Truist Financial set a $50.00 price objective on Waystar and gave the stock a "buy" rating in a report on Wednesday, May 7th.

Insiders Place Their Bets

In related news, CEO Matthew J. Hawkins sold 140,164 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $39.03, for a total value of $5,470,600.92. Following the completion of the sale, the chief executive officer now owns 764,131 shares of the company's stock, valued at $29,824,032.93. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of Waystar stock in a transaction on Friday, May 16th. The shares were sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the completion of the sale, the insider now owns 25,580,929 shares in the company, valued at approximately $956,470,935.31. This trade represents a 13.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,655,997 shares of company stock valued at $324,170,981 in the last quarter. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WAY. Barclays PLC boosted its holdings in shares of Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company's stock valued at $1,811,000 after buying an additional 56,834 shares in the last quarter. Perpetual Ltd bought a new stake in Waystar during the 4th quarter valued at about $558,000. Dakota Wealth Management purchased a new position in Waystar in the 4th quarter worth approximately $264,000. Entropy Technologies LP purchased a new position in shares of Waystar in the fourth quarter worth $289,000. Finally, Aubrey Capital Management Ltd bought a new position in Waystar during the 4th quarter valued at about $3,120,000.

Waystar Price Performance

NASDAQ WAY traded down $0.69 on Friday, hitting $38.41. The stock had a trading volume of 1,110,966 shares, compared to its average volume of 1,440,280. The firm has a 50-day moving average of $37.96 and a 200-day moving average of $37.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11. The company has a market capitalization of $6.65 billion and a price-to-earnings ratio of 426.78.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The business had revenue of $256.44 million during the quarter, compared to analysts' expectations of $248.47 million. The company's revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Waystar will post 0.39 EPS for the current year.

About Waystar

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