Waystar (NASDAQ:WAY) Sets New 12-Month High – Should You Buy?

Shares of Waystar Holding Corp. (NASDAQ:WAY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $35.84 and last traded at $35.52, with a volume of 51740 shares changing hands. The stock had previously closed at $35.36.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WAY. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research note on Friday, November 22nd. Evercore ISI boosted their target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America raised their price target on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Canaccord Genuity Group boosted their price objective on Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $32.90.

Waystar Stock Performance

The firm’s 50 day moving average price is $30.21. 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 earnings per share (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. Waystar’s quarterly revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts forecast that Waystar Holding Corp. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Waystar

In other 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 transaction, the chief financial officer now owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its holdings in shares of Waystar by 116.6% during the 3rd quarter. M&T Bank Corp now owns 63,746 shares of the company’s stock valued at $1,778,000 after buying an additional 34,316 shares during the period. Ghisallo Capital Management LLC bought a new stake in Waystar during the second quarter valued at approximately $12,900,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Waystar during the second quarter valued at approximately $27,950,000. Sculptor Capital LP bought a new position in Waystar in the second quarter worth approximately $791,000. Finally, Amalgamated Bank bought a new position in Waystar in the 3rd quarter worth $41,000.

About Waystar

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