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

Waystar Holding Corp. (NASDAQ:WAY) reached a new 52-week high during 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 Ratings Changes

Several brokerages have recently weighed in on WAY. Canaccord Genuity Group raised 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. Royal Bank of Canada raised their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America lifted their price target on shares of Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Raymond James upgraded shares of 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, The Goldman Sachs Group increased their target price on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $32.90.

Waystar Stock Up 0.4 %

The stock has a fifty day simple moving average of $30.54. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

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

Insider Buying and Selling at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction dated 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 sale, the chief financial officer now directly owns 173,642 shares in the company, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Waystar

Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board bought a new position in shares of Waystar during the second quarter worth about $800,003,000. Deerfield Management Company L.P. Series C acquired a new position in shares of Waystar during the 2nd quarter worth approximately $106,468,000. TPG GP A LLC bought a new stake in shares of Waystar during the 2nd quarter worth approximately $85,910,000. American Century Companies Inc. acquired a new position in Waystar during the second quarter worth $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Waystar during the second quarter worth $27,950,000.

About Waystar

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