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

Waystar Holding Corp. (NASDAQ:WAY)’s share price reached 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. The stock had previously closed at $38.56.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WAY shares. Bank of America lifted their price target 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. Royal Bank of Canada boosted their target price on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised 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. Evercore ISI boosted their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group raised their target price on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Waystar presently has an average rating of “Buy” and a consensus target price of $35.10.

Waystar Price Performance

The company’s 50-day simple moving average is $35.00 and its 200-day simple moving average is $29.47. 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 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 firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The business’s revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts anticipate that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of Waystar

Several large investors have recently modified their holdings of WAY. Amalgamated Bank bought a new position in Waystar in the third quarter valued at approximately $41,000. Smithfield Trust Co acquired a new stake in shares of Waystar in the 3rd quarter valued at $68,000. RiverPark Advisors LLC bought a new position in shares of Waystar in the 3rd quarter valued at $78,000. Cubist Systematic Strategies LLC acquired a new position in shares of Waystar during the 2nd quarter worth $145,000. Finally, Dakota Wealth Management bought a new stake in shares of Waystar during the 4th quarter worth $264,000.

Waystar Company Profile

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