Waystar (NASDAQ:WAY) Now Covered by Analysts at Truist Financial

Equities researchers at Truist Financial started coverage on shares of Waystar (NASDAQ:WAY) in a report issued on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Truist Financial’s price objective indicates a potential upside of 23.39% from the company’s previous close.

Several other research firms also recently issued reports on WAY. The Goldman Sachs Group lifted their price target on shares of Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group lifted their price objective on shares of Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 24th. 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. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Friday, November 22nd. Finally, Barclays increased their price objective on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and a consensus price target of $40.75.

Waystar Stock Performance

Shares of NASDAQ WAY opened at $36.47 on Friday. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $40.13 and its 200-day moving average price is $33.57. Waystar has a 1-year low of $20.26 and a 1-year high of $48.11.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. On average, equities research analysts expect that Waystar will post 0.39 EPS for the current year.

Insider Buying and Selling at Waystar

In other Waystar news, insider T. Craig Bridge sold 182,914 shares of the 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 completion of the transaction, the insider now directly owns 519,658 shares of the company’s stock, valued at approximately $21,903,584.70. This represents a 26.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business’s stock in a transaction 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 completion of the sale, the chief marketing officer now owns 43,478 shares in the company, valued at approximately $1,832,597.70. The trade was a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,356,171 shares of company stock worth $526,733,651 in the last quarter.

Institutional Investors Weigh In On Waystar

Several large investors have recently added to or reduced their stakes in WAY. Amalgamated Bank purchased a new position in Waystar in the 3rd quarter valued at approximately $41,000. RiverPark Advisors LLC bought a new position in shares of Waystar in the third quarter worth $78,000. Jennison Associates LLC grew its position in shares of Waystar by 4.3% in the third quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock valued at $31,492,000 after purchasing an additional 46,264 shares in the last quarter. Smithfield Trust Co bought a new stake in shares of Waystar during the 3rd quarter valued at $68,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Waystar during the 3rd quarter worth about $10,224,000.

Waystar Company Profile

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