Waystar (NASDAQ:WAY) Trading 5.5% Higher – Still a Buy?

Waystar Holding Corp. (NASDAQ:WAY) shares rose 5.5% on Tuesday . The company traded as high as $33.10 and last traded at $33.09. Approximately 408,204 shares were traded during trading, a decline of 55% from the average daily volume of 908,909 shares. The stock had previously closed at $31.37.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WAY shares. Royal Bank of Canada raised their price objective on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research note on Friday, November 22nd. Evercore ISI increased their target price on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $32.90.

Waystar Trading Up 3.8 %

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 company has a fifty day moving average price of $29.47.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $240.10 million during the quarter, compared to analyst estimates of $223.82 million. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities research analysts forecast that Waystar Holding Corp. will post 0.03 earnings per share for the current year.

Institutional Investors Weigh In On Waystar

Institutional investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new position in shares of Waystar during the 2nd quarter worth about $800,003,000. Deerfield Management Company L.P. Series C acquired a new position in Waystar in the second quarter worth about $106,468,000. TPG GP A LLC bought a new position in Waystar during the second quarter worth about $85,910,000. American Century Companies Inc. acquired a new stake in Waystar during the second quarter valued at approximately $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Waystar in the 2nd quarter valued at approximately $27,950,000.

About Waystar

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