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

Shares of Waystar Holding Corp. (NASDAQ:WAY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $41.83 and last traded at $41.74, with a volume of 333564 shares. The stock had previously closed at $41.06.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WAY shares. Bank of America boosted their price objective on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group upped their price target on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Raymond James upgraded 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, Royal Bank of Canada lifted their price target on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $35.10.

Waystar Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. The firm has a fifty day simple moving average of $36.16 and a two-hundred day simple moving average of $30.26.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $223.82 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, research analysts expect that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Insider Transactions at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total value of $564,810.74. Following the sale, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Waystar

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Waystar by 697.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock valued at $30,724,000 after purchasing an additional 963,316 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Waystar by 36.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock valued at $94,890,000 after buying an additional 909,715 shares during the last quarter. State Street Corp bought a new stake in shares of Waystar during the third quarter valued at approximately $16,816,000. Millennium Management LLC purchased a new position in Waystar in the 2nd quarter worth approximately $8,171,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Waystar in the 3rd quarter valued at approximately $10,224,000.

About Waystar

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