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

Waystar Holding Corp. (NASDAQ:WAY) shares hit a new 52-week high on Wednesday . The company traded as high as $41.83 and last traded at $41.74, with a volume of 333564 shares traded. The stock had previously closed at $41.06.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WAY. Canaccord Genuity Group increased their price target on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada lifted their price target on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Friday, November 22nd. Bank of America raised their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Evercore ISI boosted their target price on Waystar from $32.00 to $36.00 and gave the stock an “outperform” 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $35.10.

Waystar Stock Up 2.1 %

The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $36.16 and a 200-day moving average of $30.26.

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

Insider Activity at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the transaction, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of Waystar

A number of hedge funds and other institutional investors have recently bought and sold shares of WAY. Global Retirement Partners LLC bought a new stake in shares of Waystar in the fourth quarter valued at $25,000. Amalgamated Bank bought a new stake in Waystar in the 3rd quarter valued at about $41,000. Smithfield Trust Co purchased a new stake in Waystar during the third quarter valued at about $68,000. RiverPark Advisors LLC bought a new position in Waystar during the third quarter worth about $78,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Waystar in the second quarter worth about $145,000.

About Waystar

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