Citigroup Cuts Waystar (NASDAQ:WAY) Price Target to $46.00

Waystar (NASDAQ:WAY) had its price objective trimmed by Citigroup from $49.00 to $46.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently commented on WAY. Weiss Ratings restated a “hold (c)” rating on shares of Waystar in a research report on Wednesday, October 8th. JMP Securities started coverage on shares of Waystar in a research note on Thursday, September 18th. They issued a “market outperform” rating and a $48.00 price target on the stock. Needham & Company LLC began coverage on shares of Waystar in a research report on Tuesday, November 11th. They set a “buy” rating and a $46.00 price objective for the company. Canaccord Genuity Group set a $54.00 price objective on shares of Waystar in a report on Thursday, October 30th. Finally, Zacks Research cut shares of Waystar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $47.21.

Waystar Price Performance

NASDAQ:WAY opened at $34.50 on Friday. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. Waystar has a 52 week low of $29.40 and a 52 week high of $48.11. The stock’s 50-day moving average price is $34.28 and its 200-day moving average price is $36.26. The stock has a market capitalization of $6.60 billion, a PE ratio of 55.65, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76.

Insider Transactions at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $36.12, for a total transaction of $311,462.76. Following the transaction, the chief technology officer directly owned 422,371 shares in the company, valued at $15,256,040.52. The trade was a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total value of $125,800.00. Following the transaction, the chief marketing officer owned 193,261 shares in the company, valued at approximately $7,150,657. The trade was a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 49,749 shares of company stock valued at $1,718,384. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WAY. Munro Partners lifted its holdings in Waystar by 107.5% during the 3rd quarter. Munro Partners now owns 178,890 shares of the company’s stock worth $6,784,000 after buying an additional 92,695 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Waystar in the second quarter worth $2,670,000. Geode Capital Management LLC increased its position in shares of Waystar by 14.9% during the second quarter. Geode Capital Management LLC now owns 2,376,932 shares of the company’s stock worth $97,155,000 after acquiring an additional 309,119 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Waystar by 10.3% in the second quarter. Teacher Retirement System of Texas now owns 44,159 shares of the company’s stock valued at $1,805,000 after acquiring an additional 4,117 shares in the last quarter. Finally, Seven Grand Managers LLC raised its stake in shares of Waystar by 20.0% in the second quarter. Seven Grand Managers LLC now owns 600,000 shares of the company’s stock valued at $24,522,000 after acquiring an additional 100,000 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.