In a report released today, Allen Lutz from Bank of America Securities maintained a Buy rating on Waystar Holding Corp., with a price target of $49.00.
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Allen Lutz has given his Buy rating due to a combination of factors that highlight Waystar Holding Corp.’s strong market position and growth potential. The company’s competitive edge is evident as health systems are increasingly considering changes to their revenue cycle management strategies, with Waystar being well-positioned to capture new hospital customers. Despite some moderation in hospitals looking to change vendors, the demand for revenue cycle solutions remains robust, surpassing levels seen before the Change Healthcare cybersecurity incident.
Waystar’s prominence among the top vendors is growing, as evidenced by its increased mindshare among respondents planning to invest more in revenue cycle management. The company’s recent acquisition of Iodine further strengthens its potential for cross-selling opportunities, leveraging Iodine’s extensive client base. While there are concerns about tariff impacts, the overall outlook for Waystar remains positive, supporting the Buy rating and a price objective of $49.
In another report released on October 10, Citizens JMP also reiterated a Buy rating on the stock with a $48.00 price target.
Based on the recent corporate insider activity of 107 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.