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

Waystar’s (NASDAQ:WAY) lock-up period is set to expire on Wednesday, December 4th. Waystar had issued 45,000,000 shares in its IPO on June 7th. The total size of the offering was $967,500,000 based on an initial share price of $21.50. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Ratings Changes

Several brokerages recently issued reports on WAY. The Goldman Sachs Group increased their price target on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price target on Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Finally, Bank of America increased their price objective on shares of Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.90.

Waystar Trading Up 0.9 %

NASDAQ:WAY opened at $30.88 on Friday. The company has a fifty day moving average of $28.86. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar has a 12-month low of $20.26 and a 12-month high of $33.25.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share 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. Waystar’s revenue was up 21.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Waystar will post 0.03 earnings per share for the current year.

Institutional Trading of Waystar

Several hedge funds and other institutional investors have recently bought and sold shares of WAY. Geode Capital Management LLC lifted its position in 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 acquiring an additional 963,316 shares in the last quarter. M&T Bank Corp increased 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 valued at $1,778,000 after purchasing an additional 34,316 shares during the last quarter. Barclays PLC grew its position in shares of Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after buying an additional 56,834 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Waystar during the 3rd quarter worth approximately $222,000. Finally, Jane Street Group LLC acquired a new stake in Waystar in the third quarter worth $539,000.

About Waystar

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