Waystar (NASDAQ:WAY) Reaches New 52-Week High Following Earnings Beat

Waystar Holding Corp. (NASDAQ:WAY)’s stock price hit a new 52-week high on Tuesday following a better than expected earnings announcement. The stock traded as high as $48.11 and last traded at $45.64, with a volume of 572493 shares traded. The stock had previously closed at $45.35.

The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11.

Analyst Ratings Changes

Several equities research analysts recently commented on WAY shares. The Goldman Sachs Group raised their target price on Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada raised 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. Jefferies Financial Group assumed coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective for the company. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Friday, November 22nd. Finally, Evercore ISI upped their price objective on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $36.55.

Insider Activity

In other Waystar 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 completion of the transaction, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Waystar

Several large investors have recently made changes to their positions in WAY. Global Retirement Partners LLC bought a new stake in Waystar during the 4th quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar during the 4th quarter valued at approximately $48,000. Amalgamated Bank purchased a new stake in shares of Waystar in the third quarter worth $41,000. Smithfield Trust Co bought a new stake in Waystar during the 3rd quarter valued at approximately $68,000. Finally, Gen Wealth Partners Inc bought a new stake in shares of Waystar during the fourth quarter valued at approximately $92,000.

Waystar Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. The stock’s 50-day moving average is $38.40 and its two-hundred day moving average is $31.51.

Waystar Company Profile

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