Waystar (NASDAQ:WAY) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Waystar (NASDAQ:WAY) in a report issued on Friday,Briefing.com Automated Import 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 27.59% from the stock’s previous close.

A number of other research analysts also recently weighed in on WAY. Jefferies Financial Group began coverage on Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price target for the company. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Friday, November 22nd. Barclays upped their price target on shares of Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group boosted their price objective on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, Bank of America upped their target price on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $40.75.

Waystar Stock Down 4.4 %

Shares of WAY opened at $35.27 on Friday. The company has a 50 day moving average of $40.14 and a 200-day moving average of $33.45. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. Waystar has a twelve month low of $20.26 and a twelve month high of $48.11.

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

Insider Activity

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the transaction, the chief marketing officer now directly owns 43,478 shares of the company’s stock, valued at approximately $1,832,597.70. This trade represents a 7.25 % 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. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the transaction, the insider now owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. The trade was a 20.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

Institutional Trading of Waystar

A number of institutional investors have recently modified their holdings of WAY. Global Retirement Partners LLC acquired a new position in Waystar in the fourth quarter valued at about $25,000. Amalgamated Bank bought a new position in Waystar in the 3rd quarter valued at about $41,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Waystar in the 4th quarter valued at approximately $48,000. Smithfield Trust Co bought a new stake in shares of Waystar during the 3rd quarter worth approximately $68,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Waystar during the 3rd quarter worth approximately $78,000.

Waystar Company Profile

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