Waystar (NASDAQ:WAY) Reaches New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WAY shares. Canaccord Genuity Group boosted their price objective on shares of Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. The Goldman Sachs Group lifted their price objective on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday. 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 research report on Monday, October 14th. Finally, Evercore ISI boosted their price objective on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $31.90.

Waystar Stock Up 7.7 %

The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $27.47.

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

Institutional Investors Weigh In On Waystar

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Waystar during the second quarter worth $800,003,000. Deerfield Management Company L.P. Series C acquired a new stake in Waystar during the 2nd quarter worth about $106,468,000. TPG GP A LLC acquired a new stake in shares of Waystar during the 2nd quarter valued at $85,910,000. American Century Companies Inc. acquired a new stake in Waystar during the second quarter valued at $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Waystar in the 2nd quarter valued at approximately $27,950,000.

About Waystar

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