Waystar (NASDAQ:WAY - Get Free Report) was upgraded by analysts at TD Cowen to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.
Several other research analysts have also issued reports on the stock. Jefferies Financial Group started coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price on the stock. Canaccord Genuity Group dropped their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group raised their target price on Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Truist Financial set a $50.00 price target on Waystar and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Barclays cut their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Twelve analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $40.50.
Get Our Latest Analysis on WAY
Waystar Trading Down 0.2%
Shares of Waystar stock traded down $0.09 during midday trading on Thursday, reaching $40.63. The company had a trading volume of 1,823,588 shares, compared to its average volume of 1,378,571. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The stock has a fifty day moving average price of $38.35 and a 200 day moving average price of $38.01. The firm has a market cap of $7.03 billion and a PE ratio of 451.44.
Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $256.44 million for the quarter, compared to analyst estimates of $248.47 million. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that Waystar will post 0.39 earnings per share for the current year.
Insider Activity at Waystar
In other news, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $37.39, for a total value of $153,723,638.23. Following the transaction, the insider now owns 25,580,929 shares in the company, valued at $956,470,935.31. The trade was a 13.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total value of $1,696,812.12. Following the completion of the transaction, the chief executive officer now directly owns 500,000 shares of the company's stock, valued at approximately $18,180,000. This represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,655,997 shares of company stock valued at $324,170,981 over the last 90 days. Insiders own 4.10% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of WAY. Barclays PLC grew its position in shares of Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company's stock valued at $1,811,000 after acquiring an additional 56,834 shares during the period. Deutsche Bank AG grew its holdings in Waystar by 64.9% during the fourth quarter. Deutsche Bank AG now owns 34,847 shares of the company's stock valued at $1,279,000 after purchasing an additional 13,715 shares during the period. Raymond James Financial Inc. purchased a new stake in Waystar in the fourth quarter worth $1,504,000. M&T Bank Corp raised its stake in shares of Waystar by 16.7% in the fourth quarter. M&T Bank Corp now owns 74,390 shares of the company's stock valued at $2,730,000 after buying an additional 10,644 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Waystar by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company's stock valued at $13,862,000 after buying an additional 11,117 shares during the period.
About Waystar
(
Get Free Report)
Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.
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