Kevin Caliendo, an analyst from UBS, has initiated a new Buy rating on Waystar Holding Corp. (WAY).
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Kevin Caliendo has given his Buy rating due to a combination of factors, primarily focusing on Waystar’s strategic positioning and growth potential in the revenue cycle management sector. The company is well-placed to benefit from a significant industry shift towards automation and AI-driven solutions, which are increasingly being adopted by healthcare providers seeking efficiency and cost-effectiveness.
Waystar’s acquisition of Iodine Software is expected to enhance its market presence and expand its addressable market significantly. The company’s strong client retention and potential for cross-selling opportunities further bolster its growth prospects. Additionally, the projected increase in earnings and the possibility of future mergers and acquisitions are anticipated to act as catalysts for a re-rating of the stock, supporting the Buy recommendation with a price target of $41.
In another report released on December 12, Barclays also maintained a Buy rating on the stock with a $42.00 price target.