Waystar Holding Corp. (NASDAQ:WAY) Given Average Recommendation of "Buy" by Brokerages

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) has received an average recommendation of "Buy" from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $40.75.

Several analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Waystar in a report on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price on the stock. The Goldman Sachs Group increased their price objective on Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Truist Financial began coverage on shares of Waystar in a report on Friday, March 14th. They set a "buy" rating and a $45.00 target price on the stock. Canaccord Genuity Group increased their price target on shares of Waystar from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Finally, Barclays boosted their price objective on shares of Waystar from $42.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th.

Waystar Stock Down 5.5 %

Shares of NASDAQ WAY traded down $2.04 during midday trading on Thursday, reaching $34.93. The company's stock had a trading volume of 1,740,987 shares, compared to its average volume of 1,384,562. The stock has a 50 day simple moving average of $40.07 and a 200-day simple moving average of $34.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $48.11.

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Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. As a group, equities analysts expect that Waystar will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Waystar news, Director Paul G. Moskowitz sold 5,652,689 shares of Waystar stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $38.60, for a total value of $218,193,795.40. Following the completion of the sale, the director now owns 22,327,728 shares in the company, valued at $861,850,300.80. The trade was a 20.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the business'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 completion of the sale, the chief marketing officer now directly owns 43,478 shares of the company's stock, valued at $1,832,597.70. This represents a 7.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,356,171 shares of company stock worth $526,733,651 over the last three months.

Institutional Investors Weigh In On Waystar

A number of hedge funds and other institutional investors have recently made changes to their positions in WAY. Charles Schwab Investment Management Inc. acquired a new stake in Waystar during the third quarter worth approximately $10,224,000. Cerity Partners LLC grew its holdings in shares of Waystar by 1.5% during the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company's stock worth $1,302,000 after purchasing an additional 699 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Waystar in the third quarter worth $526,000. FMR LLC bought a new position in shares of Waystar in the third quarter worth $1,421,000. Finally, BNP Paribas Financial Markets bought a new stake in Waystar during the third quarter worth about $1,006,000.

About Waystar

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