Waystar (NASDAQ:WAY) Reaches New 12-Month High – Still a Buy?

Waystar Holding Corp. (NASDAQ:WAY) shares hit a new 52-week high on Tuesday . The stock traded as high as $38.44 and last traded at $37.82, with a volume of 83362 shares traded. The stock had previously closed at $37.47.

Analyst Ratings Changes

Several equities analysts recently issued reports on WAY shares. The Goldman Sachs Group lifted their price objective on shares of Waystar from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Bank of America boosted their price target on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. 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 report on Thursday, November 7th. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Friday, November 22nd. Finally, Evercore ISI raised their price target on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $35.10.

Waystar Trading Up 1.4 %

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 firm’s 50-day simple moving average is $34.23 and its two-hundred day simple moving average is $28.86.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. Waystar’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Insider Transactions at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the sale, the chief financial officer now directly owns 173,642 shares of the company’s stock, 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

A number of institutional investors have recently modified their holdings of WAY. Dakota Wealth Management acquired a new stake in Waystar during the fourth quarter worth about $264,000. Perpetual Ltd purchased a new stake in Waystar in the 4th quarter worth approximately $558,000. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Waystar during the 4th quarter worth approximately $1,905,000. JPMorgan Chase & Co. increased its holdings in shares of Waystar by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after purchasing an additional 96,552 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Waystar by 697.5% during the third quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after buying an additional 963,316 shares in the last quarter.

About Waystar

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