Citigroup Initiates Coverage on Waystar (NASDAQ:WAY)

Citigroup assumed coverage on shares of Waystar (NASDAQ:WAY) in a research report released on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $45.00 price target on the stock.

Several other analysts also recently weighed in on the stock. TD Cowen raised shares of Waystar to a “strong-buy” rating in a research note on Thursday, June 5th. Barclays decreased their target price on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group lowered their target price on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Truist Financial set a $50.00 price target on Waystar and gave the company a “buy” rating in a research note on Wednesday, May 7th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $40.85.

Waystar Stock Up 0.7%

Shares of WAY opened at $39.00 on Wednesday. The firm has a fifty day moving average price of $38.86 and a 200-day moving average price of $38.57. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.75 billion and a P/E ratio of 433.38. Waystar has a 12-month low of $20.26 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The business’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Waystar will post 0.39 earnings per share for the current year.

Insider Transactions at Waystar

In related news, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total transaction of $313,532.28. Following the completion of the sale, the chief technology officer now owns 438,044 shares of the company’s stock, valued at $15,927,279.84. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of Waystar stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $40.22, for a total transaction of $390,214.44. Following the completion of the transaction, the insider now directly owns 490,870 shares in the company, valued at $19,742,791.40. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,684,024 shares of company stock valued at $325,277,756. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new position in Waystar during the 4th quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Waystar during the fourth quarter worth about $48,000. State of Wyoming acquired a new position in shares of Waystar during the first quarter valued at about $54,000. Quarry LP acquired a new position in shares of Waystar during the first quarter valued at about $60,000. Finally, Gen Wealth Partners Inc purchased a new position in shares of Waystar in the 4th quarter valued at approximately $92,000.

Waystar Company Profile

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