Waystar (NASDAQ:WAY) Reaches New 12-Month High – Should You Buy?

Waystar Holding Corp. (NASDAQ:WAY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.40 and last traded at $33.06, with a volume of 32181 shares trading hands. The stock had previously closed at $32.79.

Analysts Set New Price Targets

A number of brokerages have issued reports on WAY. Deutsche Bank Aktiengesellschaft upped their price target on shares of Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Evercore ISI raised their target price on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a report 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 report on Friday, November 22nd. Finally, Canaccord Genuity Group raised their price target on shares of Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $32.90.

Waystar Trading Up 3.0 %

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 stock has a 50 day moving average of $29.33.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share 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 analyst estimates of $223.82 million. The business’s quarterly revenue was up 21.7% on a year-over-year basis. As a group, equities analysts anticipate that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

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