Waystar’s (WAY) “Buy” Rating Reaffirmed at Needham & Company LLC

Waystar (NASDAQ:WAY)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $33.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 36.31% from the company’s previous close.

Several other brokerages also recently commented on WAY. Truist Financial dropped their target price on Waystar from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company decreased their price target on Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Citigroup reaffirmed a “buy” rating on shares of Waystar in a research report on Monday, July 20th. UBS Group dropped their price objective on shares of Waystar from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $39.00 target price on shares of Waystar in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Waystar Stock Down 4.5%

Shares of NASDAQ WAY opened at $24.21 on Wednesday. The stock has a fifty day moving average price of $22.46 and a 200 day moving average price of $22.66. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. Waystar has a 12-month low of $17.26 and a 12-month high of $41.47. The company has a market cap of $4.64 billion, a P/E ratio of 34.59, a P/E/G ratio of 0.99 and a beta of 0.06.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The company had revenue of $319.67 million for the quarter, compared to analysts’ expectations of $316.21 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Research analysts anticipate that Waystar will post 1.47 EPS for the current fiscal year.

Insider Activity

In other news, CEO Matthew J. Hawkins sold 60,038 shares of Waystar stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the sale, the chief executive officer directly owned 1,835,081 shares of the company’s stock, valued at approximately $45,895,375.81. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Waystar

A number of hedge funds have recently bought and sold shares of WAY. Kennedy Capital Management LLC boosted its holdings in Waystar by 0.5% in the fourth quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company’s stock worth $3,478,000 after purchasing an additional 559 shares during the period. Pacer Advisors Inc. increased its stake in Waystar by 22.1% during the fourth quarter. Pacer Advisors Inc. now owns 3,144 shares of the company’s stock valued at $103,000 after purchasing an additional 569 shares during the last quarter. State of Wyoming raised its holdings in shares of Waystar by 45.1% during the second 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 period. ProShare Advisors LLC lifted its position in shares of Waystar by 3.7% in the 4th quarter. ProShare Advisors LLC now owns 21,474 shares of the company’s stock worth $703,000 after buying an additional 764 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its position in shares of Waystar by 9.3% in the 4th quarter. Vinva Investment Management Ltd now owns 9,202 shares of the company’s stock worth $301,000 after buying an additional 786 shares during the last quarter.

Waystar Company Profile

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.