William Blair analyst Ryan Daniels has maintained their bullish stance on WAY stock, giving a Buy rating yesterday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ryan Daniels has given his Buy rating due to a combination of factors that highlight Waystar Holding Corp.’s strong growth potential and strategic positioning. The company is expected to maintain low-double-digit organic sales growth through robust client retention, innovative product offerings, and successful market share expansion. Waystar’s largely recurring revenue model, coupled with limited exposure to government funding changes, provides a stable foundation for continued performance, even amidst challenges faced by end-market providers.
Furthermore, Daniels views Waystar as a high-quality growth opportunity, particularly as revenue cycle management remains a key investment area for health systems. The anticipated acquisition of Iodine Software is seen as a strategic move to broaden Waystar’s market reach, enhance its AI capabilities, and improve its solution offerings. Additionally, Waystar’s strong margins and cash flow position support ongoing reinvestment, with the Iodine deal expected to enhance financial performance and sales visibility in the long term.
In another report released yesterday, Robert W. Baird also initiated coverage with a Buy rating on the stock with a $44.00 price target.