Waystar Holding Corp.’s (NASDAQ:WAY) Lock-Up Period To End on December 4th

Waystar’s (NASDAQ:WAY) lock-up period is set to expire on Wednesday, December 4th. Waystar had issued 45,000,000 shares in its public offering on June 7th. The total size of the offering was $967,500,000 based on an initial share price of $21.50. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

Several analysts have recently commented on WAY shares. JPMorgan Chase & Co. increased their price target on shares of 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 increased their target price on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada boosted their price target on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research report on Friday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.90.

Waystar Price Performance

Shares of NASDAQ:WAY opened at $30.87 on Wednesday. Waystar has a 12-month low of $20.26 and a 12-month high of $33.25. The stock has a 50-day simple moving average of $28.64. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $223.82 million. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. Analysts expect that Waystar will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waystar

Large investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Waystar by 697.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after purchasing an additional 963,316 shares during the period. M&T Bank Corp grew its stake in Waystar by 116.6% during the third quarter. M&T Bank Corp now owns 63,746 shares of the company’s stock worth $1,778,000 after buying an additional 34,316 shares during the period. Barclays PLC increased its position in shares of Waystar by 701.7% in the third quarter. Barclays PLC now owns 64,934 shares of the company’s stock worth $1,811,000 after acquiring an additional 56,834 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Waystar in the 3rd quarter valued at $222,000. Finally, Jane Street Group LLC purchased a new position in shares of Waystar in the 3rd quarter valued at $539,000.

About Waystar

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