Waystar price target raised to $50 from $42 at Canaccord

Canaccord raised the firm’s price target on Waystar (WAY) to $50 from $42 and keeps a Buy rating on the shares. The firm said Waystar continued to outperform estimates and guidance delivering a monumental year of growth for the company that rode the coattails of the Change Healthcare cybersecurity event in early 2024, but also demonstrated the company’s land and expand strategy illustrated by 110% NRR.