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

Waystar Holding Corp. (NASDAQ:WAY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $29.60 and last traded at $29.45, with a volume of 4738 shares trading hands. The stock had previously closed at $29.01.

Analyst Ratings Changes

A number of research firms recently weighed in on WAY. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Bank of America upped their target price on shares of Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI raised their price target on shares of Waystar from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada upped their price target on shares of Waystar from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $29.90.

Waystar Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 2.15 and a quick ratio of 2.15. The business’s 50 day simple moving average is $27.41.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.25 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The business’s quarterly revenue was up 19.6% on a year-over-year basis. On average, equities analysts forecast that Waystar Holding Corp. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

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

About Waystar

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