William Blair analyst Ryan Daniels has reiterated their bullish stance on WAY stock, giving a Buy rating on July 28.
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Ryan Daniels has given his Buy rating due to a combination of factors including Waystar Holding Corp.’s impressive financial performance in the second quarter. The company exceeded expectations with revenue reaching $270.7 million, surpassing the consensus estimate of $255 million. This strong performance was accompanied by an adjusted EBITDA of $112.6 million and an adjusted EPS of $0.36, both of which were above prior consensus estimates.
Additionally, the company’s management provided positive commentary on the demand environment and pipeline, despite broader macroeconomic uncertainties. Waystar’s revenue cycle management remains a priority for providers, and the company’s largely recurring revenue stream offers strong visibility into future guidance. With management raising its 2025 outlook across key metrics, the growth outlook for Waystar is considered robust, further supporting the Buy recommendation.
Daniels covers the Healthcare sector, focusing on stocks such as Addus Homecare, Evolent Health, and TransMedics Group. According to TipRanks, Daniels has an average return of 4.5% and a 41.79% success rate on recommended stocks.
In another report released on July 28, Citi also maintained a Buy rating on the stock with a $47.00 price target.