Waystar (NASDAQ:WAY) Shares Gap Down – Here’s Why

Waystar Holding Corp. (NASDAQ:WAY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $24.52, but opened at $21.47. Waystar shares last traded at $21.0720, with a volume of 553,238 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WAY shares. KeyCorp restated an “overweight” rating on shares of Waystar in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Waystar from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Citigroup reiterated a “buy” rating on shares of Waystar in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $39.00 price target on shares of Waystar in a research report on Friday. Finally, UBS Group dropped their price objective on shares of Waystar from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.14.

Waystar Stock Performance

The stock has a 50 day simple moving average of $20.80 and a 200 day simple moving average of $23.20. The company has a quick ratio of 1.76, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 0.82 and a beta of 0.08.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $319.67 million during the quarter, compared to analyst estimates of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, analysts predict that Waystar Holding Corp. will post 1.46 EPS for the current year.

Institutional Trading of Waystar

Large investors have recently bought and sold shares of the company. Handelsbanken Fonder AB raised its stake in shares of Waystar by 52.2% during the second quarter. Handelsbanken Fonder AB now owns 37,300 shares of the company’s stock valued at $766,000 after purchasing an additional 12,800 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of Waystar by 32.4% in the second quarter. Central Pacific Bank Trust Division now owns 10,820 shares of the company’s stock valued at $222,000 after purchasing an additional 2,650 shares during the period. City Center Advisors LLC boosted its stake in shares of Waystar by 43.6% in the second quarter. City Center Advisors LLC now owns 14,545 shares of the company’s stock valued at $299,000 after purchasing an additional 4,417 shares during the period. Essential Partners LLC grew its holdings in Waystar by 1,432.7% during the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock valued at $37,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Waystar by 61.8% during the 1st quarter. Bank of America Corp DE now owns 2,065,258 shares of the company’s stock valued at $49,793,000 after purchasing an additional 789,132 shares in the last quarter.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.