Waystar (NASDAQ:WAY) Reaches New 12-Month High – Here’s What Happened

Waystar Holding Corp. (NASDAQ:WAY) shares hit a new 52-week high on Tuesday . The stock traded as high as $40.25 and last traded at $40.18, with a volume of 671396 shares changing hands. The stock had previously closed at $38.56.

Analysts Set New Price Targets

Several analysts have commented on WAY shares. Evercore ISI increased 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. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Friday, November 22nd. Royal Bank of Canada raised their price target on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted 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. Finally, Bank of America lifted their target price on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Waystar presently has a consensus rating of “Buy” and a consensus price target of $35.10.

Waystar Price Performance

The company has a fifty day simple moving average of $35.38 and a 200-day simple moving average of $29.68. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released 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 analysts’ expectations of $223.82 million. Waystar’s revenue for the quarter was up 21.7% on a year-over-year basis. Equities research analysts predict that Waystar Holding Corp. will post 0.03 EPS for the current year.

Insider Activity

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 transaction of $564,810.74. Following the sale, the chief financial officer now owns 173,642 shares of the company’s stock, valued at approximately $5,884,727.38. This trade represents a 8.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. bought a new position in Waystar during the second quarter valued at $1,435,000. Cubist Systematic Strategies LLC bought a new stake in shares of Waystar in the 2nd quarter worth about $145,000. Millennium Management LLC purchased a new position in shares of Waystar during the 2nd quarter worth about $8,171,000. Point72 Asset Management L.P. bought a new position in Waystar during the 2nd quarter valued at about $813,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Waystar in the 2nd quarter worth about $12,900,000.

About Waystar

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