Royal Bank Of Canada Reaffirms Outperform Rating for Waystar (NASDAQ:WAY)

Waystar (NASDAQ:WAY)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank Of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $44.00 price objective on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 72.15% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Raymond James Financial reiterated a “strong-buy” rating and set a $32.00 price objective on shares of Waystar in a research report on Thursday, April 30th. Barclays lifted their price objective on shares of Waystar from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $33.00 target price on shares of Waystar in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Waystar from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.39.

Waystar Price Performance

NASDAQ:WAY traded up $1.39 during trading hours on Thursday, reaching $25.56. The stock had a trading volume of 348,478 shares, compared to its average volume of 2,666,080. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 1.85. Waystar has a 52 week low of $17.26 and a 52 week high of $41.47. The company has a 50 day moving average price of $22.58 and a two-hundred day moving average price of $22.66. The stock has a market capitalization of $4.90 billion, a PE ratio of 36.34, a PEG ratio of 0.94 and a beta of 0.06.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. The business had revenue of $319.67 million for the quarter, compared to analysts’ expectations of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, sell-side analysts anticipate that Waystar will post 1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the completion of the sale, the chief executive officer owned 1,835,081 shares of the company’s stock, valued at $45,895,375.81. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new stake in shares of Waystar in the second quarter worth approximately $390,593,000. BlackRock Inc. purchased a new position in Waystar during the 2nd quarter valued at $357,950,000. Vanguard Group Inc. boosted its holdings in Waystar by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,330,872 shares of the company’s stock valued at $403,836,000 after acquiring an additional 41,062 shares during the period. Advent International L.P. bought a new position in Waystar in the 2nd quarter valued at $227,060,000. Finally, William Blair Investment Management LLC grew its position in Waystar by 0.4% in the 4th quarter. William Blair Investment Management LLC now owns 5,282,220 shares of the company’s stock valued at $172,993,000 after acquiring an additional 19,033 shares during the last quarter.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.