Waystar (NASDAQ:WAY) Sets New 12-Month High – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAY) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $42.13 and last traded at $41.99, with a volume of 385904 shares. The stock had previously closed at $41.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI upped their price objective on 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 lifted their price objective on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada increased their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group began coverage on Waystar in a report on Tuesday. They set a “buy” rating and a $51.00 price objective for the company. 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 report on Friday, November 22nd. Eleven 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 company currently has a consensus rating of “Buy” and a consensus price target of $36.55.

Waystar Price Performance

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 firm has a 50 day moving average price of $37.01 and a 200-day moving average price of $30.77.

Insider Activity at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar 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 completion of the sale, the chief financial officer now owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Waystar

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in shares of Waystar in the 4th quarter valued at about $25,000. Cerity Partners LLC increased its position in shares of 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 in the last quarter. Amalgamated Bank acquired a new stake in shares of Waystar in the third quarter worth $41,000. Smithfield Trust Co acquired a new stake in shares of Waystar in the third quarter worth $68,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Waystar during the third quarter worth about $78,000.

About Waystar

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