Truist Financial Issues Positive Forecast for Waystar (NASDAQ:WAY) Stock Price

Waystar (NASDAQ:WAY - Free Report) had its price target upped by Truist Financial from $50.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also commented on WAY. Canaccord Genuity Group lowered their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Mizuho started coverage on shares of Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target for the company. TD Cowen raised Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Barclays decreased their price objective on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Citigroup began coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $42.31.

Waystar Price Performance

WAY stock traded down $0.36 during mid-day trading on Thursday, hitting $36.70. The company had a trading volume of 1,073,463 shares, compared to its average volume of 1,410,595. The company has a 50-day moving average price of $39.03 and a 200 day moving average price of $38.90. Waystar has a 12-month low of $20.74 and a 12-month high of $48.11. The company has a market capitalization of $6.39 billion and a price-to-earnings ratio of 407.82. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.39.

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

Insider Activity at Waystar

In related news, Director Paul G. Moskowitz sold 3,012,253 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $37.39, for a total value of $112,628,139.67. Following the completion of the sale, the director directly owned 18,742,283 shares of the company's stock, valued at $700,773,961.37. This represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total transaction of $379,930.32. Following the completion of the sale, the insider directly owned 490,870 shares of the company's stock, valued at $19,222,469.20. The trade was a 1.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,684,024 shares of company stock valued at $325,377,374 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Waystar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Waystar by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company's stock valued at $13,862,000 after purchasing an additional 11,117 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Waystar during the fourth quarter worth about $1,504,000. PNC Financial Services Group Inc. increased its holdings in shares of Waystar by 40.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,383 shares of the company's stock valued at $528,000 after acquiring an additional 4,165 shares in the last quarter. Swiss National Bank purchased a new position in shares of Waystar in the 4th quarter valued at approximately $3,009,000. Finally, Quantbot Technologies LP acquired a new stake in Waystar in the 4th quarter worth approximately $1,622,000.

Waystar Company Profile

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