Waystar: Buy Rating Reaffirmed as Q1 Outperformance and Temporary Headwinds Support Unchanged $42 Price Target

Analyst Charles Rhyee of TD Cowen reiterated a Buy rating on Waystar Holding Corp., retaining the price target of $42.00.

Charles Rhyee has given his Buy rating due to a combination of factors, including Waystar’s solid first‑quarter performance and what he views as an overreaction in the share price. He highlights that revenue and EBITDA exceeded expectations, full‑year guidance was affirmed, and the recent weakness in the stock is largely tied to temporary issues such as adverse weather and anticipated volume pressure that management had already factored into its outlook.

Rhyee also stresses that the impact from the shift from print to digital payments is mainly an accounting nuance that does not affect cash generation or gross profit dollars. He regards management’s guidance as cautious relative to his longer‑term growth assumptions, maintains robust revenue and EBITDA estimates for 2026–2027, and keeps his $42 price target unchanged, implying meaningful upside from current levels.

In another report released on April 30, J.P. Morgan also maintained a Buy rating on the stock with a $38.00 price target.