Brokerages Set Waystar Holding Corp. (NASDAQ:WAY) Price Target at $35.23

Shares of Waystar Holding Corp. (NASDAQ:WAY) have earned an average rating of “Moderate Buy” from the twenty-four ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eighteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.2273.

WAY has been the subject of several research reports. Barclays dropped their target price on Waystar from $36.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Weiss Ratings cut Waystar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. KeyCorp assumed coverage on Waystar in a research note on Wednesday, July 1st. They issued an “overweight” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Waystar from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Waystar from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th.

Hedge Funds Weigh In On Waystar

Large investors have recently modified their holdings of the business. Root Financial Partners LLC grew its stake in shares of Waystar by 6,475.0% in the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock worth $25,000 after purchasing an additional 1,036 shares during the last quarter. Essential Partners LLC increased its holdings in Waystar by 1,432.7% in the first quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock valued at $37,000 after purchasing an additional 1,447 shares during the period. Smartleaf Asset Management LLC raised its position in Waystar by 6,005.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock worth $38,000 after purchasing an additional 1,141 shares during the last quarter. Danske Bank A S bought a new position in Waystar during the 4th quarter worth $52,000. Finally, EverSource Wealth Advisors LLC raised its position in Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $57,000 after purchasing an additional 1,352 shares during the last quarter.

Waystar Stock Up 2.4%

Shares of WAY opened at $23.69 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.76 and a current ratio of 1.76. Waystar has a 52 week low of $17.26 and a 52 week high of $41.47. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 0.91 and a beta of 0.08. The stock has a fifty day moving average of $20.62 and a 200-day moving average of $23.37.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Waystar had a return on equity of 6.99% and a net margin of 10.90%.The business had revenue of $313.87 million for the quarter, compared to analyst estimates of $311.74 million. During the same quarter in the previous year, the company posted $0.32 EPS. Waystar’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Waystar will post 1.46 earnings per share for the current fiscal year.

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.