Waystar (NASDAQ:WAY) Rating Increased to Buy at Wall Street Zen

Key Points

• Waystar's rating has been upgraded from "hold" to "buy" by Wall Street Zen, reflecting increased investor confidence.
• The company reported strong quarterly earnings, exceeding consensus estimates with $0.36 EPS and $270.65 million in revenue, up 15.4% year-over-year.
• Recent insider sales include CEO Matthew J. Hawkins selling 12,800 shares, indicating ongoing stock activity among company executives.

Waystar (NASDAQ:WAY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other research analysts have also recently issued reports about the company. Truist Financial lifted their price target on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Baird R W upgraded Waystar to a "strong-buy" rating in a research report on Friday, September 5th. Citigroup assumed coverage on Waystar in a research report on Thursday, September 18th. They set an "outperform" rating for the company. JMP Securities assumed coverage on Waystar in a research report on Thursday, September 18th. They set a "market outperform" rating and a $48.00 price target for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Waystar in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $45.14.

Waystar Trading Down 4.6%

Waystar stock opened at $35.70 on Friday. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39. Waystar has a 52 week low of $26.95 and a 52 week high of $48.11. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 74.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69. The stock has a 50-day moving average price of $37.08 and a 200 day moving average price of $37.77.

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

Insider Activity

In related news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $37.63, for a total transaction of $365,048.63. Following the completion of the sale, the insider directly owned 474,826 shares in the company, valued at approximately $17,867,702.38. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew J. Hawkins sold 12,800 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $38.08, for a total value of $487,424.00. Following the sale, the chief executive officer owned 717,474 shares of the company's stock, valued at $27,321,409.92. The trade was a 1.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,669,294 shares of company stock valued at $182,614,673 in the last three months. Company insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Waystar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in 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 buying an additional 3,099,211 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Waystar by 23.9% during the second quarter. William Blair Investment Management LLC now owns 5,239,365 shares of the company's stock worth $214,133,000 after buying an additional 1,011,940 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Waystar by 3,883.4% during the second quarter. Alliancebernstein L.P. now owns 3,268,932 shares of the company's stock worth $133,601,000 after buying an additional 3,186,869 shares during the last quarter. Geode Capital Management LLC boosted its stake in Waystar by 14.9% during the second quarter. Geode Capital Management LLC now owns 2,376,932 shares of the company's stock worth $97,155,000 after buying an additional 309,119 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Waystar by 10.7% during the second quarter. Bank of America Corp DE now owns 2,087,680 shares of the company's stock worth $85,323,000 after buying an additional 201,262 shares during the last quarter.

Waystar Company Profile

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

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