Waystar (NASDAQ:WAY) Coverage Initiated at Truist Financial

Analysts at Truist Financial began coverage on shares of Waystar (NASDAQ:WAY) in a report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Truist Financial’s target price would indicate a potential upside of 23.39% from the company’s current price.

A number of other equities analysts have also commented on the stock. Barclays raised their price target on shares of Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Bank of America raised their target price on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Friday, November 22nd. The Goldman Sachs Group raised their price objective on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group upped their target price on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Waystar has an average rating of “Buy” and an average target price of $40.75.

Waystar Stock Up 3.4 %

Shares of WAY stock opened at $36.47 on Friday. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average is $40.13 and its 200-day moving average is $33.57.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million for the quarter, compared to analyst estimates of $232.29 million. As a group, equities research analysts forecast that Waystar will post 0.39 EPS for the current fiscal year.

Insider Transactions at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the transaction, the chief marketing officer now directly owns 43,478 shares in the company, valued at approximately $1,832,597.70. This trade represents a 7.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider T. Craig Bridge sold 182,914 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the completion of the transaction, the insider now owns 519,658 shares of the company’s stock, valued at approximately $21,903,584.70. This trade represents a 26.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,356,171 shares of company stock valued at $526,733,651.

Institutional Investors Weigh In On Waystar

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in Waystar during the fourth quarter worth $25,000. Cerity Partners LLC grew its holdings in Waystar by 1.5% during the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock worth $1,302,000 after acquiring an additional 699 shares during the period. RiverPark Advisors LLC raised its position in shares of Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock worth $128,000 after acquiring an additional 710 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Waystar by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock valued at $901,000 after purchasing an additional 960 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Waystar by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company’s stock valued at $1,985,000 after purchasing an additional 964 shares in the last quarter.

Waystar Company Profile

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