Citigroup Begins Coverage on Waystar (NASDAQ:WAY)

Citigroup assumed coverage on shares of Waystar (NASDAQ:WAY - Free Report) in a research report released on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $45.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial set a $50.00 price target on shares of Waystar and gave the company a "buy" rating in a research report on Wednesday, May 7th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Barclays reduced their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Waystar has an average rating of "Buy" and a consensus price target of $40.85.

Waystar Price Performance

Shares of Waystar stock traded up $0.49 on Wednesday, reaching $39.76. The stock had a trading volume of 4,021,749 shares, compared to its average volume of 1,393,184. Waystar has a 1 year low of $20.26 and a 1 year high of $48.11. The company has a market cap of $6.88 billion and a P/E ratio of 441.83. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.39. The business's 50 day moving average is $38.98 and its two-hundred day moving average is $38.67.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. Waystar's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, research analysts anticipate that Waystar will post 0.39 EPS for the current year.

Insider Buying and Selling at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $313,532.28. Following the completion of the transaction, the chief technology officer now owns 438,044 shares of the company's stock, valued at $15,927,279.84. The trade was a 1.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $1,696,812.12. Following the completion of the transaction, the chief executive officer now directly owns 500,000 shares of the company's stock, valued at approximately $18,180,000. This represents a 8.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,684,024 shares of company stock valued at $325,277,756. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waystar

A number of large investors have recently made changes to their positions in WAY. Vanguard Group Inc. grew its stake in shares of Waystar by 62.1% during the 1st quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after purchasing an additional 3,099,211 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Waystar by 2.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock valued at $127,798,000 after purchasing an additional 79,944 shares during the period. Norges Bank bought a new stake in shares of Waystar during the 4th quarter valued at about $119,387,000. Invesco Ltd. grew its stake in shares of Waystar by 9,107.1% during the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after purchasing an additional 2,018,125 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in shares of Waystar by 27.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,975,142 shares of the company's stock valued at $73,791,000 after purchasing an additional 427,337 shares during the period.

Waystar Company Profile

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