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

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research note on Friday, November 22nd. Canaccord Genuity Group increased their price target on shares of Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada increased their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America raised their target price on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. 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, the stock has a consensus rating of “Buy” and an average target price of $35.10.

Waystar Trading Down 0.0 %

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 business’s 50 day moving average is $36.59 and its 200-day moving average is $30.41.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $223.82 million. Waystar’s revenue was up 21.7% on a year-over-year basis. Research analysts forecast that Waystar Holding Corp. will post 0.03 EPS for the current year.

Insider Buying and Selling at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Waystar during the 4th quarter valued at about $25,000. Cerity Partners LLC lifted its holdings in Waystar by 1.5% during the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after purchasing an additional 699 shares during the last quarter. Amalgamated Bank bought a new position in Waystar during the 3rd quarter valued at about $41,000. Smithfield Trust Co bought a new position in Waystar during the 3rd quarter valued at about $68,000. Finally, RiverPark Advisors LLC bought a new position in Waystar during the 3rd quarter valued at about $78,000.

About Waystar

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