Waystar (NASDAQ:WAY) Now Covered by Analysts at Citizens Jmp

Key Points

• Citizens Jmp has initiated coverage on Waystar (NASDAQ:WAY) with an "outperform" rating and a price target of $48.00, suggesting a potential upside of 24.38% from the current stock price.
• Waystar's recent quarterly earnings report showed an EPS of $0.36, beating estimates and marking a 15.4% increase in revenue year-over-year.
• Insider selling has been significant, with Director Paul G. Moskowitz selling over 4.2 million shares for nearly $168.4 million, indicating a 23.79% decrease in their position.

Citizens Jmp assumed coverage on shares of Waystar (NASDAQ:WAY - Free Report) in a report released on Thursday morning, Marketbeat reports. The brokerage issued a mkt outperform rating and a $48.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. JMP Securities initiated coverage on Waystar in a research report on Thursday. They set a "market outperform" rating and a $48.00 target price on the stock. Baird R W raised Waystar to a "strong-buy" rating in a research report on Friday, September 5th. Truist Financial lifted their target price on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Mizuho initiated coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Finally, Robert W. Baird initiated coverage on Waystar in a research report on Friday, September 5th. They set an "outperform" rating and a $44.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $45.14.

Waystar Stock Down 2.0%

Waystar stock traded down $0.78 during mid-day trading on Thursday, reaching $37.80. The stock had a trading volume of 23,165,252 shares, compared to its average volume of 2,763,748. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. Waystar has a fifty-two week low of $26.26 and a fifty-two week high of $48.11. The stock's 50-day simple moving average is $36.81 and its 200-day simple moving average is $37.75. The firm has a market capitalization of $6.59 billion, a PE ratio of 78.75, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78.

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

Insider Buying and Selling at Waystar

In related news, Director Paul G. Moskowitz sold 4,295,139 shares of the business'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 directly owned 13,759,910 shares in the company, valued at $539,526,071.10. The trade was a 23.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total value of $1,617,478.22. Following the transaction, the chief executive officer owned 764,131 shares of the company's stock, valued at approximately $26,484,780.46. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,652,918 shares of company stock valued at $182,012,322 over the last 90 days. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Waystar

A number of hedge funds and other institutional investors have recently modified their holdings of WAY. Alliancebernstein L.P. boosted its holdings in shares of Waystar by 3,883.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company's stock worth $133,601,000 after purchasing an additional 3,186,869 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Waystar by 62.1% in the 1st 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 in the last quarter. Invesco Ltd. boosted its holdings in shares of Waystar by 9,107.1% in the 1st 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 in the last quarter. Norges Bank purchased a new position in shares of Waystar in the 2nd quarter worth about $46,577,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Waystar by 721.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,202,340 shares of the company's stock worth $44,919,000 after purchasing an additional 1,055,965 shares in the last quarter.

About Waystar

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