Waystar (NASDAQ:WAY) Now Covered by Analysts at Barclays

Key Points

• Barclays has initiated coverage on Waystar with an "overweight" rating and set a price target of $50.00, indicating a potential upside of 36.54% from current levels.
• Waystar recently reported a 15.4% increase in quarterly revenue compared to the previous year, with earnings per share of $0.36, exceeding analyst expectations.
• Analysts are generally positive on Waystar, with a consensus rating of "Buy" and an average price target of $45.50 following recent reports.

Investment analysts at Barclays started coverage on shares of Waystar (NASDAQ:WAY - Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an "overweight" rating and a $50.00 price target on the stock. Barclays's target price would indicate a potential upside of 36.54% from the stock's current price.

A number of other research firms have also recently issued reports on WAY. Citizens Jmp began coverage on shares of Waystar in a research report on Thursday, September 18th. They set a "mkt outperform" rating and a $48.00 price objective on the stock. JMP Securities began coverage on shares of Waystar in a research report on Thursday, September 18th. They set a "market outperform" rating and a $48.00 price objective on the stock. Mizuho began coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective on the stock. Wall Street Zen raised shares of Waystar from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Citigroup started coverage on shares of Waystar in a research report on Thursday, September 18th. They set an "outperform" rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $45.50.

Waystar Stock Performance

Shares of WAY opened at $36.62 on Tuesday. 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 stock has a market capitalization of $6.38 billion, a P/E ratio of 76.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.69. The firm's fifty day simple moving average is $37.14 and its two-hundred day simple moving average is $37.75. Waystar has a 12 month low of $26.95 and a 12 month high of $48.11.

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

Insider Activity

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $40.49, for a total transaction of $674,806.34. Following the transaction, the chief financial officer owned 354,512 shares of the company's stock, valued at $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 available through the SEC website. Also, Director Paul G. Moskowitz sold 4,295,139 shares of Waystar stock in a transaction that occurred on 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 transaction, the director directly owned 13,759,910 shares in the company, valued at approximately $539,526,071.10. This represents a 23.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,631,250 shares of company stock worth $181,141,432. Corporate insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Waystar

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of Waystar by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock worth $549,000 after purchasing an additional 304 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Waystar by 5.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company's stock worth $289,000 after purchasing an additional 348 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Waystar by 50.6% during the 2nd 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 increased its stake in shares of Waystar by 45.1% during the 2nd quarter. State of Wyoming now owns 2,098 shares of the company's stock worth $86,000 after purchasing an additional 652 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Waystar during the 2nd quarter worth approximately $33,000.

About Waystar

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