Waystar (NASDAQ:WAY) Reaches New 1-Year High - Should You Buy?

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $29.41 and last traded at $29.23, with a volume of 443668 shares. The stock had previously closed at $28.11.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays began coverage on Waystar in a research report on Tuesday, July 2nd. They set an "overweight" rating and a $24.00 target price on the stock. Canaccord Genuity Group assumed coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued a "buy" rating and a $30.00 target price for the company. Canaccord Genuity Group assumed coverage on shares of Waystar in a report on Tuesday, July 2nd. They set a "buy" rating and a $30.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Waystar from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Waystar from $27.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Waystar presently has a consensus rating of "Buy" and a consensus price target of $29.90.

Waystar Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a fifty day moving average of $27.22.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. The firm had revenue of $234.50 million for the quarter, compared to analysts' expectations of $216.25 million. During the same period in the prior year, the company earned ($0.07) EPS. The firm's quarterly revenue was up 19.6% on a year-over-year basis. On average, analysts expect that Waystar Holding Corp. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank purchased a new position in Waystar during the 3rd quarter valued at about $41,000. Cubist Systematic Strategies LLC bought a new stake in Waystar during the 2nd quarter worth approximately $145,000. Scientech Research LLC purchased a new stake in Waystar in the 2nd quarter worth approximately $289,000. Federated Hermes Inc. purchased a new position in shares of Waystar during the 2nd quarter valued at $430,000. Finally, SG Americas Securities LLC bought a new position in shares of Waystar in the third quarter worth $717,000.

Waystar Company Profile

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