Waystar (NASDAQ:WAY) Given New $45.00 Price Target at Barclays

Waystar (NASDAQ:WAY) had its target price decreased by stock analysts at Barclays from $50.00 to $45.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 21.85% from the company’s current price.

A number of other brokerages have also recently issued reports on WAY. The Goldman Sachs Group increased their target price on shares of Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Jefferies Financial Group began coverage on Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective for the company. Canaccord Genuity Group upped their target price on shares of Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Truist Financial started coverage on shares of Waystar in a research note on Friday, March 14th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Bank of America increased their price target on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.33.

Waystar Stock Up 1.0 %

NASDAQ WAY opened at $36.93 on Monday. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The company’s fifty day moving average is $39.32 and its two-hundred day moving average is $35.21.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million for the quarter, compared to analyst estimates of $232.29 million. On average, sell-side analysts anticipate that Waystar will post 0.39 earnings per share for the current year.

Insider Activity

In other news, CEO Matthew J. Hawkins sold 46,667 shares of the firm’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $36.36, for a total transaction of $1,696,812.12. Following the completion of the sale, the chief executive officer now owns 500,000 shares in the company, valued at approximately $18,180,000. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the sale, the chief marketing officer now directly owns 43,478 shares of the company’s stock, 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 13,411,461 shares of company stock worth $528,743,995 in the last quarter.

Institutional Investors Weigh In On Waystar

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in Waystar by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after purchasing an additional 96,552 shares in the last quarter. Barclays PLC grew its position in shares of Waystar by 701.7% in the 3rd quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after buying an additional 56,834 shares during the last quarter. State Street Corp acquired a new stake in shares of Waystar during the third quarter worth $16,816,000. Jane Street Group LLC acquired a new stake in Waystar during the third quarter worth approximately $539,000. Finally, Perpetual Ltd acquired a new position in shares of Waystar during the 4th quarter valued at $558,000.

About Waystar

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