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

Shares of Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $35.84 and last traded at $35.52, with a volume of 51740 shares traded. The stock had previously closed at $35.36.

Analysts Set New Price Targets

Several equities analysts have commented on WAY shares. Royal Bank of Canada increased their price target on shares of Waystar from $31.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Evercore ISI lifted their price target on shares of 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 upped their price objective on shares of Waystar from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Canaccord Genuity Group lifted their target price on Waystar from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Raymond James upgraded Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a research note on Friday, November 22nd. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $32.90.

Waystar Stock 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 stock has a 50-day simple moving average of $29.91.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly 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 analysts' expectations of $223.82 million. Waystar's quarterly revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts expect that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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. This represents a 8.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Waystar

Institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of Waystar in the third quarter worth approximately $41,000. Smithfield Trust Co acquired a new position in shares of Waystar in the 3rd quarter valued at $68,000. RiverPark Advisors LLC purchased a new stake in shares of Waystar during the 3rd quarter valued at $78,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Waystar during the 2nd quarter worth $145,000. Finally, Stifel Financial Corp acquired a new stake in Waystar during the third quarter worth about $204,000.

About Waystar

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