Morgan Stanley Begins Coverage on Waystar (NASDAQ:WAY)

Morgan Stanley assumed coverage on shares of Waystar (NASDAQ:WAY) in a report issued on Monday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $28.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 16.13% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Citigroup reduced their price objective on Waystar from $46.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. TD Cowen restated a “buy” rating on shares of Waystar in a research report on Wednesday, February 18th. Mizuho set a $42.00 target price on Waystar in a research note on Wednesday, February 4th. The Goldman Sachs Group reduced their price target on Waystar from $44.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Finally, Leerink Partners initiated coverage on Waystar in a research note on Monday, February 2nd. They issued an “outperform” rating and a $43.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.58.

Waystar Stock Up 2.8%

WAY stock opened at $24.11 on Monday. The stock has a market cap of $4.62 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 0.91 and a beta of 0.80. The firm’s 50-day simple moving average is $25.24 and its 200 day simple moving average is $31.75. Waystar has a fifty-two week low of $21.13 and a fifty-two week high of $42.55. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.38.

Waystar (NASDAQ:WAY) last posted its earnings results on Tuesday, February 17th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Waystar had a net margin of 10.20% and a return on equity of 6.86%. The firm had revenue of $303.54 million for the quarter, compared to analyst estimates of $294.72 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. As a group, sell-side analysts predict that Waystar will post 0.39 EPS for the current year.

Insider Activity

In related news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total transaction of $1,209,968.00. Following the transaction, the insider owned 474,826 shares in the company, valued at $14,282,766.08. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Waystar

Several hedge funds have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd raised its stake in shares of Waystar by 120.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after buying an additional 449 shares in the last quarter. Kennedy Capital Management LLC boosted its stake in Waystar by 0.5% during the fourth quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company’s stock valued at $3,478,000 after buying an additional 559 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Waystar by 22.1% during the fourth quarter. Pacer Advisors Inc. now owns 3,144 shares of the company’s stock worth $103,000 after acquiring an additional 569 shares during the period. BCS Private Wealth Management Inc. grew its holdings in Waystar by 8.4% during the third quarter. BCS Private Wealth Management Inc. now owns 7,455 shares of the company’s stock worth $283,000 after acquiring an additional 575 shares during the period. Finally, Carnegie Investment Counsel raised its position in Waystar by 9.4% in the third quarter. Carnegie Investment Counsel now owns 7,002 shares of the company’s stock worth $266,000 after acquiring an additional 600 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.