Waystar (NASDAQ:WAY) Earns Outperform Rating from Analysts at Mizuho

Mizuho assumed coverage on shares of Waystar (NASDAQ:WAY - Free Report) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $48.00 target price on the stock.

Several other research analysts have also recently weighed in on WAY. Barclays reduced their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Citigroup started coverage on Waystar in a research note on Wednesday, June 25th. They issued a "buy" rating and a $45.00 target price on the stock. Truist Financial set a $50.00 price target on shares of Waystar and gave the stock a "buy" rating in a research note on Wednesday, May 7th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Canaccord Genuity Group cut their price objective 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. Twelve research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Waystar currently has a consensus rating of "Buy" and a consensus price target of $42.23.

Waystar Trading Up 1.7%

NASDAQ:WAY traded up $0.65 on Monday, hitting $39.32. 523,549 shares of the stock were exchanged, compared to its average volume of 1,395,533. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.12 and a current ratio of 3.12. Waystar has a 52 week low of $20.26 and a 52 week high of $48.11. The stock has a market capitalization of $6.80 billion and a price-to-earnings ratio of 436.88. The company's 50-day moving average price is $39.21 and its 200 day moving average price is $38.79.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The business had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Waystar will post 0.39 earnings per share for the current year.

Insider Activity at Waystar

In related news, CEO Matthew J. Hawkins sold 197,847 shares of Waystar stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $38.53, for a total transaction of $7,623,044.91. Following the completion of the sale, the chief executive officer owned 764,131 shares of the company's stock, valued at approximately $29,441,967.43. The trade was a 20.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the stock in a transaction dated 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 transaction, the insider directly owned 25,580,929 shares in the company, valued at approximately $956,470,935.31. This represents a 13.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,684,024 shares of company stock valued at $325,277,756 over the last three months. Company insiders own 4.10% of the company's stock.

Institutional Trading of Waystar

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Waystar in the 4th quarter worth about $119,387,000. Vanguard Group Inc. increased its holdings in shares of Waystar by 62.1% during 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 period. Invesco Ltd. raised its position in shares of Waystar by 9,107.1% in the first quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after buying an additional 2,018,125 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Waystar in the fourth quarter valued at approximately $56,804,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Waystar in the fourth quarter valued at approximately $49,251,000.

About Waystar

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