Waystar Holding Corp.’s (NASDAQ:WAY) Lock-Up Period Set To Expire on December 4th

Waystar’s (NASDAQ:WAY) lock-up period is set to expire on Wednesday, December 4th. Waystar had issued 45,000,000 shares in its initial public offering on June 7th. The total size of the offering was $967,500,000 based on an initial share price of $21.50. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analyst Weigh In

WAY has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI lifted their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Bank of America increased their target price on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Friday, November 22nd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.90.

Waystar Stock Performance

NASDAQ:WAY opened at $30.88 on Friday. The stock has a 50 day moving average price of $28.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. Waystar has a 52 week low of $20.26 and a 52 week high of $33.25.

Waystar (NASDAQ:WAY) last announced its 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 business had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts predict that Waystar will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Peregrine Capital Management LLC bought a new stake in Waystar in the second quarter valued at $9,010,000. TD Asset Management Inc bought a new stake in shares of Waystar in the 2nd quarter worth about $1,633,000. American Century Companies Inc. acquired a new stake in shares of Waystar during the 2nd quarter worth about $28,357,000. Federated Hermes Inc. bought a new position in Waystar during the 2nd quarter valued at about $430,000. Finally, Canada Pension Plan Investment Board acquired a new position in Waystar in the second quarter valued at about $800,003,000.

Waystar Company Profile

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