Analyst Richard Close from Canaccord Genuity maintained a Buy rating on Waystar Holding Corp. (WAY – Research Report) and decreased the price target to $47.00 from $50.00.
Richard Close has given his Buy rating due to a combination of factors that highlight Waystar Holding Corp.’s strong performance and future potential. The company’s recent quarterly report exceeded expectations with a notable increase in revenue and adjusted EBITDA, reinforcing its position as a key focus stock for 2025. The high visibility into guidance, with a significant portion of revenue under contract and favorable volume trends, suggests the potential for positive revisions.
Additionally, Waystar’s strategic initiatives, including the introduction of AltitudeAI, are expected to drive market share gains and enhance client growth. The company’s ability to price to value with its new offerings supports the expectation of sustained double-digit, high-margin revenue growth. Despite potential economic challenges, Waystar’s resilience and the value it provides to healthcare providers position it well for continued success. Consequently, Richard Close recommends purchasing shares, with a price target adjusted to $47.
In another report released today, Barclays also maintained a Buy rating on the stock with a $45.00 price target.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WAY in relation to earlier this year.