Waystar (NASDAQ:WAY) Hits New 1-Year High – Should You Buy?

Waystar Holding Corp. (NASDAQ:WAY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.25 and last traded at $40.18, with a volume of 671396 shares. The stock had previously closed at $38.56.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. 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 research report on Thursday, November 7th. Royal Bank of Canada upped their target price on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a report on Friday, November 22nd. Bank of America increased their price objective on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Canaccord Genuity Group lifted their price target on Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Waystar currently has an average rating of “Buy” and a consensus target price of $35.10.

Waystar Price Performance

The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $35.38 and its 200-day moving average is $29.68.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The firm’s revenue was up 21.7% on a year-over-year basis. On average, equities research analysts anticipate that Waystar Holding Corp. will post 0.03 EPS for the current year.

Insider Buying and Selling

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the sale, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Waystar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank purchased a new stake in shares of Waystar in the 3rd quarter valued at $41,000. Smithfield Trust Co purchased a new position in shares of Waystar in the third quarter worth $68,000. RiverPark Advisors LLC purchased a new position in shares of Waystar during the third quarter valued at approximately $78,000. Cubist Systematic Strategies LLC purchased a new stake in Waystar in the second quarter worth about $145,000. Finally, Dakota Wealth Management bought a new stake in shares of Waystar during the fourth quarter valued at approximately $264,000.

Waystar Company Profile

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