Waystar (NASDAQ:WAY) Reaches New 1-Year High on Better-Than-Expected Earnings

Waystar Holding Corp. (NASDAQ:WAY)’s share price hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $48.11 and last traded at $45.64, with a volume of 572493 shares. The stock had previously closed at $45.35.

The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.11.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America boosted their target price on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. The Goldman Sachs Group upped their target price on Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada lifted their price target on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their price objective on Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Waystar presently has an average rating of “Buy” and an average target price of $36.55.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in Waystar during the fourth quarter worth about $25,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Waystar during the 4th quarter valued at about $48,000. Amalgamated Bank bought a new stake in Waystar in the 3rd quarter worth approximately $41,000. Smithfield Trust Co purchased a new stake in Waystar in the third quarter worth approximately $68,000. Finally, Gen Wealth Partners Inc bought a new position in Waystar during the fourth quarter valued at approximately $92,000.

Waystar Trading Down 0.5 %

The firm’s 50 day simple moving average is $38.64 and its 200 day simple moving average is $31.67. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar Company Profile

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