Waystar (NASDAQ:WAY) Reaches New 12-Month High – Still a Buy?

Waystar Holding Corp. (NASDAQ:WAY)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $29.60 and last traded at $29.45, with a volume of 4738 shares trading hands. The stock had previously closed at $29.01.

Analyst Ratings Changes

Several brokerages have recently issued reports on WAY. Bank of America raised their price target on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada boosted their price objective on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI increased their target price on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group lifted their target price on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Canaccord Genuity Group raised their price objective on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Waystar presently has an average rating of “Buy” and a consensus price target of $31.90.

Waystar Stock Up 7.7 %

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 company’s 50 day simple moving average is $27.47.

Waystar (NASDAQ:WAY) last released its quarterly earnings data 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 firm had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.25 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, research analysts anticipate that Waystar Holding Corp. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Waystar

Institutional investors have recently bought and sold shares of the business. RiverPark Advisors LLC acquired a new stake in shares of Waystar in the third quarter valued at approximately $78,000. Amalgamated Bank acquired a new stake in Waystar during the 3rd quarter valued at $41,000. SG Americas Securities LLC bought a new position in Waystar during the third quarter worth $717,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Waystar in the second quarter valued at $27,950,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Waystar in the second quarter valued at $145,000.

About Waystar

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