Waystar (NASDAQ:WAY) Sets New 12-Month High – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $37.21 and last traded at $37.06, with a volume of 25079 shares changing hands. The stock had previously closed at $36.93.

Analyst Upgrades and Downgrades

A number of research firms have commented on WAY. Royal Bank of Canada lifted their price objective on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price target on shares of Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Raymond James upgraded 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, November 22nd. Finally, Evercore ISI boosted 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. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Waystar presently has an average rating of “Buy” and a consensus price target of $32.90.

Waystar Stock Up 2.2 %

The business’s fifty day simple moving average is $31.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY) last posted 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 company had revenue of $240.10 million during the quarter, compared to analyst estimates of $223.82 million. The firm’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts anticipate that Waystar Holding Corp. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction 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 $5,884,727.38. This represents a 8.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Amalgamated Bank acquired a new position in shares of Waystar during the third quarter worth $41,000. Smithfield Trust Co bought a new stake in Waystar during the 3rd quarter worth $68,000. RiverPark Advisors LLC acquired a new position in Waystar in the 3rd quarter worth about $78,000. Cubist Systematic Strategies LLC bought a new position in Waystar in the second quarter valued at about $145,000. Finally, Stifel Financial Corp acquired a new stake in shares of Waystar during the third quarter valued at about $204,000.

Waystar Company Profile

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