Waystar (NASDAQ:WAY) Sets New 1-Year High – What’s Next?

Shares of Waystar Holding Corp. (NASDAQ:WAY) reached a new 52-week high on Tuesday . The company traded as high as $37.21 and last traded at $37.06, with a volume of 25079 shares. The stock had previously closed at $36.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WAY. Canaccord Genuity Group lifted their price objective on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI raised their price objective on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock 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. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $32.90.

Waystar Trading Up 2.2 %

The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $31.13.

Waystar (NASDAQ:WAY) last released 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 during the quarter, compared to analyst estimates of $223.82 million. The company’s revenue was up 21.7% compared to the same quarter last year. Research analysts forecast that Waystar Holding Corp. will post 0.03 EPS for the current year.

Insider Activity

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction 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 owns 173,642 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink.

Hedge Funds Weigh In On Waystar

Large investors have recently modified their holdings of the business. Amalgamated Bank bought a new position in shares of Waystar in the third quarter valued at $41,000. Smithfield Trust Co bought a new position in shares of Waystar in the 3rd quarter valued at about $68,000. RiverPark Advisors LLC bought a new stake in shares of Waystar in the 3rd quarter valued at about $78,000. Cubist Systematic Strategies LLC acquired a new stake in Waystar in the 2nd quarter valued at about $145,000. Finally, Stifel Financial Corp bought a new position in Waystar during the third quarter worth about $204,000.

About Waystar

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