Waystar (NASDAQ:WAY) Stock Rating Upgraded by Wall Street Zen

Waystar (NASDAQ:WAY) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts have also recently weighed in on WAY. Citigroup lowered their target price on Waystar from $49.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Mizuho set a $42.00 target price on Waystar in a report on Wednesday. Zacks Research lowered Waystar from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a report on Wednesday, January 21st. Finally, Canaccord Genuity Group set a $54.00 price objective on shares of Waystar in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $45.87.

Waystar Stock Performance

WAY opened at $24.30 on Friday. Waystar has a twelve month low of $23.23 and a twelve month high of $48.11. The firm has a market capitalization of $4.65 billion, a PE ratio of 39.19, a PEG ratio of 0.30 and a beta of 0.75. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $31.11 and its 200 day moving average price is $34.87.

Insider Activity at Waystar

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total value of $1,209,968.00. Following the transaction, the insider owned 474,826 shares of the company’s stock, valued at $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total transaction of $125,800.00. Following the transaction, the chief marketing officer directly owned 193,261 shares of the company’s stock, valued at approximately $7,150,657. This trade represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 80,273 shares of company stock worth $2,569,997. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WAY. Royal Bank of Canada grew its holdings in shares of Waystar by 11.3% in the first quarter. Royal Bank of Canada now owns 21,609 shares of the company’s stock valued at $808,000 after purchasing an additional 2,195 shares in the last quarter. AQR Capital Management LLC purchased a new position in Waystar in the 1st quarter valued at approximately $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Waystar by 91.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company’s stock worth $1,753,000 after acquiring an additional 22,364 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Waystar during the first quarter worth $234,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Waystar by 13.4% in the first quarter. Goldman Sachs Group Inc. now owns 747,268 shares of the company’s stock valued at $27,918,000 after acquiring an additional 88,256 shares in 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.