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

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WAY shares. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Friday, November 22nd. Royal Bank of Canada lifted their price objective on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Bank of America raised their price objective on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI increased their target price on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.90.

Waystar Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. The company has a fifty day moving average of $29.62.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $223.82 million. Waystar’s revenue for the quarter was up 21.7% on a year-over-year basis. Research analysts anticipate that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Waystar

A number of institutional investors and hedge funds have recently made changes to their positions in WAY. Cerity Partners LLC lifted its stake in Waystar by 1.5% in the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock worth $1,302,000 after acquiring an additional 699 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Waystar during the 3rd quarter worth $41,000. Smithfield Trust Co acquired a new position in shares of Waystar during the third quarter worth $68,000. RiverPark Advisors LLC purchased a new position in Waystar in the third quarter valued at $78,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Waystar in the second quarter valued at $145,000.

About Waystar

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