Waystar (NASDAQ:WAY) Reaches New 52-Week High – Here’s What Happened

Shares of Waystar Holding Corp. (NASDAQ:WAY) hit a new 52-week high during trading on Tuesday . The stock traded as high as $35.84 and last traded at $35.52, with a volume of 51740 shares changing hands. The stock had previously closed at $35.36.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WAY. Royal Bank of Canada raised their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group increased their price target on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Waystar from $34.00 to $39.00 and gave the company a “buy” 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 note on Friday, November 22nd. Finally, Evercore ISI increased 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. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.90.

Waystar Price Performance

The stock’s 50 day simple moving average is $30.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating 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. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that Waystar Holding Corp. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred on Thursday, December 12th. The shares were 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 in the company, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Waystar

Several hedge funds have recently bought and sold shares of WAY. Amalgamated Bank bought a new position in Waystar in the 3rd quarter worth about $41,000. Smithfield Trust Co purchased a new stake in Waystar in the third quarter valued at approximately $68,000. RiverPark Advisors LLC bought a new stake in Waystar during the third quarter valued at approximately $78,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Waystar during the 2nd quarter valued at $145,000. Finally, Stifel Financial Corp bought a new stake in shares of Waystar during the 3rd quarter worth $204,000.

Waystar Company Profile

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