Waystar (NASDAQ:WAY) Now Covered by 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 initiated coverage on shares of Waystar (NASDAQ:WAY - Free Report) in a report released on Thursday morning, MarketBeat Ratings reports. The firm issued a mkt outperform rating and a $48.00 price objective on the stock.

Several other brokerages have also issued reports on WAY. Truist Financial boosted their price objective on shares of Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. JMP Securities assumed coverage on Waystar in a report on Thursday. They issued a "market outperform" rating and a $48.00 price objective for the company. Robert W. Baird initiated coverage on Waystar in a research report on Friday, September 5th. They issued an "outperform" rating and a $44.00 price objective for the company. Baird R W upgraded Waystar to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Citigroup initiated coverage on Waystar in a research note on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $45.14.

Waystar Stock Down 0.5%

Shares of NASDAQ:WAY traded down $0.19 during trading on Thursday, reaching $37.62. The stock had a trading volume of 1,088,234 shares, compared to its average volume of 2,070,322. Waystar has a one year low of $26.56 and a one year high of $48.11. The company has a market capitalization of $6.55 billion, a P/E ratio of 78.37, a PEG ratio of 0.69 and a beta of 0.78. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The firm's 50-day simple moving average is $36.81 and its 200 day simple moving average is $37.73.

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

Insider Activity

In other news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $40.49, for a total value of $674,806.34. Following the completion of the sale, the chief financial officer directly owned 354,512 shares of the company's stock, valued at approximately $14,354,190.88. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul G. Moskowitz sold 4,295,139 shares of Waystar stock in a transaction on Friday, September 12th. The stock was sold at an average price of $39.21, for a total value of $168,412,400.19. Following the sale, the director directly owned 13,759,910 shares of the company's stock, valued at approximately $539,526,071.10. This trade represents a 23.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,652,918 shares of company stock worth $182,012,322. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Waystar

A number of institutional investors have recently bought and sold shares of WAY. Central Pacific Bank Trust Division acquired a new position in shares of Waystar in the second quarter valued at approximately $33,000. Nisa Investment Advisors LLC lifted its stake in Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company's stock worth $44,000 after purchasing an additional 358 shares during the last quarter. State of Wyoming bought a new position in shares of Waystar in the 1st quarter valued at $54,000. EverSource Wealth Advisors LLC increased its holdings in Waystar by 3,219.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock valued at $57,000 after purchasing an additional 1,352 shares during the period. Finally, Quarry LP acquired a new stake in Waystar in the first quarter valued at $60,000.

Waystar Company Profile

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