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

Waystar Holding Corp. (NASDAQ:WAY) hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.44 and last traded at $37.82, with a volume of 83362 shares. The stock had previously closed at $37.47.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WAY. 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. The Goldman Sachs Group upped their target price on Waystar from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Evercore ISI lifted their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their price objective on Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, Bank of America increased their price objective on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $35.10.

Waystar Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. The business’s 50 day moving average is $34.37 and its two-hundred day moving average is $28.98.

Waystar (NASDAQ:WAY) last issued 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 company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. Waystar’s revenue was up 21.7% compared to the same quarter last year. On average, research analysts predict that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Waystar

In related 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 transaction, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C purchased a new position in Waystar in the second quarter valued at approximately $106,468,000. TPG GP A LLC purchased a new position in shares of Waystar during the 2nd quarter valued at $85,910,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Waystar during the 2nd quarter worth $27,950,000. Geode Capital Management LLC increased its holdings in Waystar by 697.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after acquiring an additional 963,316 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in Waystar by 36.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock worth $94,890,000 after acquiring an additional 909,715 shares during the last quarter.

Waystar Company Profile

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