Waystar (NASDAQ:WAY) Upgraded to Strong-Buy at Baird R W

Key Points

• Waystar has been upgraded to a "strong-buy" rating by Baird R W, indicating strong market confidence in the stock's future performance.
• The company reported earnings of $0.36 per share, surpassing analysts' expectations and showing a 15.4% increase in quarterly revenue compared to the previous year.
• Currently, Waystar's stock has a consensus rating of "Buy" with an average price target of $44.67, reflecting positive analyst sentiment.

Waystar (NASDAQ:WAY - Get Free Report) was upgraded by Baird R W to a "strong-buy" rating in a report issued on Friday,Zacks.com reports.

WAY has been the topic of a number of other reports. Truist Financial upped their target price on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Robert W. Baird started coverage on Waystar in a report on Friday. They set an "outperform" rating and a $44.00 target price for the company. Citigroup initiated coverage on Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price for the company. Finally, Mizuho initiated coverage on Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $44.67.

Waystar Stock Up 0.1%

Shares of NASDAQ WAY opened at $37.27 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43. Waystar has a one year low of $25.76 and a one year high of $48.11. The stock has a market capitalization of $6.49 billion, a PE ratio of 77.65, a P/E/G ratio of 0.68 and a beta of 0.78. The business's fifty day moving average price is $36.77 and its 200-day moving average price is $38.03.

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

Insider Buying and Selling

In related news, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total transaction of $1,617,478.22. Following the transaction, the chief executive officer directly owned 764,131 shares in the company, valued at approximately $26,484,780.46. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $34.49, for a total value of $297,407.27. Following the sale, the chief technology officer directly owned 438,044 shares in the company, valued at approximately $15,108,137.56. This represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,411 shares of company stock valued at $9,110,688 over the last three months. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in shares of Waystar by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,271 shares of the company's stock worth $634,000 after purchasing an additional 3,070 shares in the last quarter. Northern Trust Corp grew its position in Waystar by 4.9% during the 4th quarter. Northern Trust Corp now owns 376,005 shares of the company's stock worth $13,799,000 after purchasing an additional 17,398 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Waystar during the 4th quarter worth about $503,000. Comerica Bank grew its position in Waystar by 3,523.5% during the 4th quarter. Comerica Bank now owns 42,467 shares of the company's stock worth $1,559,000 after purchasing an additional 41,295 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Waystar by 76.3% during the 4th quarter. Ameriprise Financial Inc. now owns 146,375 shares of the company's stock valued at $5,372,000 after acquiring an additional 63,326 shares during the period.

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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