Waystar (NASDAQ:WAY) Reaches New 1-Year High – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAY)’s share price hit a new 52-week high on Wednesday . The company traded as high as $29.41 and last traded at $29.23, with a volume of 443668 shares changing hands. The stock had previously closed at $28.11.

Wall Street Analysts Forecast Growth

WAY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on shares of Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Canaccord Genuity Group began coverage on shares of Waystar in a research note on Tuesday, July 2nd. They set a “buy” rating and a $30.00 price target on the stock. Barclays initiated coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Evercore ISI upped their target price on shares of Waystar from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Waystar presently has an average rating of “Buy” and a consensus price target of $29.90.

Waystar Trading Up 2.7 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.15 and a current ratio of 2.15. The business’s fifty day moving average price is $27.17.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $234.50 million during the quarter, compared to analysts’ expectations of $216.25 million. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) earnings per share. On average, equities analysts predict that Waystar Holding Corp. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Waystar

Large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new stake in shares of Waystar during the second quarter valued at approximately $800,003,000. Deerfield Management Company L.P. Series C bought a new stake in Waystar during the 2nd quarter valued at $106,468,000. TPG GP A LLC bought a new stake in Waystar during the 2nd quarter valued at $85,910,000. American Century Companies Inc. bought a new position in shares of Waystar during the 2nd quarter worth $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Waystar during the second quarter valued at $27,950,000.

Waystar Company Profile

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