Brokerages Set Waystar Holding Corp. (NASDAQ:WAY) PT at $40.75

Shares of Waystar Holding Corp. (NASDAQ:WAY) have been assigned an average rating of “Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $40.75.

Several research firms have recently weighed in on WAY. Bank of America upped 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. Canaccord Genuity Group upped their price objective on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Jefferies Financial Group began coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price for the company. Truist Financial initiated coverage on Waystar in a research report on Friday, March 14th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Barclays lifted their price objective on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new stake in Waystar in the fourth quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Waystar in the 4th quarter valued at about $48,000. Gen Wealth Partners Inc acquired a new stake in shares of Waystar in the 4th quarter valued at approximately $92,000. RiverPark Advisors LLC boosted its stake in Waystar by 25.5% during 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 during the last quarter. Finally, Stifel Financial Corp acquired a new position in Waystar during the third quarter valued at approximately $204,000.

Waystar Stock Up 2.4 %

NASDAQ WAY opened at $35.76 on Thursday. Waystar has a 1-year low of $20.26 and a 1-year high of $48.11. The stock’s 50 day moving average is $40.02 and its two-hundred day moving average is $34.81. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40.

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

About Waystar

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