Waystar (NASDAQ:WAY) Reaches New 52-Week High – Should You Buy?

Shares of Waystar Holding Corp. (NASDAQ:WAY) hit a new 52-week high 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 analysts have weighed in on WAY shares. Evercore ISI upped their target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Bank of America lifted their price target on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group boosted their target price on Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $35.10.

Waystar Stock Up 5.6 %

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 has a 50-day moving average of $35.00 and a 200-day moving average of $29.47.

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

Insiders Place Their Bets

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the transaction, the chief financial officer now 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 document filed with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of Waystar in the 3rd quarter worth approximately $41,000. Smithfield Trust Co bought a new stake in Waystar during the 3rd quarter worth about $68,000. RiverPark Advisors LLC acquired a new stake in Waystar in the 3rd quarter valued at about $78,000. Cubist Systematic Strategies LLC bought a new position in Waystar in the 2nd quarter worth approximately $145,000. Finally, Stifel Financial Corp bought a new stake in shares of Waystar during the third quarter worth $204,000.

Waystar Company Profile

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