Analyst Sean Dodge of BMO Capital maintained a Buy rating on Waystar Holding Corp., retaining the price target of $30.00.
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Sean Dodge has given his Buy rating due to a combination of factors tied to Waystar’s operating performance and strategic positioning in AI. The company started 2026 with solid momentum, posting first-quarter revenue and EBITDA above expectations while reiterating full-year guidance, and management highlighted a record sales pipeline, rising win rates, and robust bookings, with a growing share of deals focused on AI-enhanced offerings that increase automation and embed the platform more deeply in provider workflows.
He also notes that demand for Waystar’s comprehensive revenue-cycle platforms remains resilient despite broader concerns about AI-driven disruption, as customers are increasingly favoring higher-value, stickier platform contracts and turning to Waystar’s AI solutions to capture efficiency gains. While some near-term, volume-based revenue headwinds from shifts to digital statements, insurance changes, and weather effects are pressuring certain lines, these are viewed as transitory, and the business mix is tilting toward higher-quality subscription revenue, supporting visibility into 2027 and reinforcing the path toward long-term double-digit growth and roughly 40% EBITDA margins, which underpins the unchanged $30 price target and Buy recommendation.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $30.00 price target.