Waystar (NASDAQ:WAY) Sets New 52-Week High – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAY) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $38.44 and last traded at $37.82, with a volume of 83362 shares. The stock had previously closed at $37.47.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WAY. Evercore ISI boosted their target price on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Bank of America raised their target price on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada lifted their target price on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on shares of Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waystar presently has a consensus rating of “Buy” and a consensus target price of $35.10.

Waystar Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. The company’s 50-day moving average is $34.37 and its two-hundred day moving average is $28.98.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, sell-side analysts predict that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the completion of the sale, the chief financial officer now directly owns 173,642 shares in the company, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Waystar

A number of large investors have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in Waystar in the third quarter valued at approximately $41,000. Smithfield Trust Co bought a new stake in Waystar during the 3rd quarter valued at $68,000. RiverPark Advisors LLC purchased a new stake in Waystar during the 3rd quarter valued at $78,000. Cubist Systematic Strategies LLC bought a new stake in Waystar in the 2nd quarter worth $145,000. Finally, Dakota Wealth Management purchased a new position in shares of Waystar in the fourth quarter valued at about $264,000.

About Waystar

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