Waystar (NASDAQ:WAY) Reaches New 52-Week High – Time to Buy?

Waystar Holding Corp. (NASDAQ:WAY)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.40 and last traded at $33.06, with a volume of 32181 shares trading hands. The stock had previously closed at $32.79.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped 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. The Goldman Sachs Group lifted their target price on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI raised their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America boosted their price objective on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.90.

Waystar Stock Performance

The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a 50-day simple moving average of $29.62.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company 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 predict that Waystar Holding Corp. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waystar

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in shares of Waystar in the third quarter valued at $41,000. Smithfield Trust Co acquired a new stake in Waystar in the 3rd quarter valued at about $68,000. RiverPark Advisors LLC purchased a new position in Waystar during the 3rd quarter valued at about $78,000. Cubist Systematic Strategies LLC acquired a new position in Waystar during the second quarter worth about $145,000. Finally, Stifel Financial Corp purchased a new stake in shares of Waystar in the third quarter valued at about $204,000.

About Waystar

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