Waystar (NASDAQ:WAY) Sees Strong Trading Volume – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAY) shares saw unusually-high trading volume on Friday . Approximately 720,555 shares traded hands during trading, a decline of 17% from the previous session’s volume of 866,494 shares.The stock last traded at $31.75 and had previously closed at $31.14.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Evercore ISI increased their price target on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price objective on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.90.

Waystar Stock Up 0.4 %

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 firm has a fifty day moving average price of $28.49.

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

Institutional Investors Weigh In On Waystar

Several institutional investors have recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new stake in shares of Waystar in the 2nd quarter valued at about $9,010,000. TD Asset Management Inc bought a new position in shares of Waystar during the second quarter worth about $1,633,000. American Century Companies Inc. acquired a new stake in Waystar in the 2nd quarter valued at approximately $28,357,000. Federated Hermes Inc. bought a new stake in Waystar in the 2nd quarter valued at approximately $430,000. Finally, Canada Pension Plan Investment Board acquired a new position in Waystar during the 2nd quarter worth approximately $800,003,000.

About Waystar

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