Waystar price target lowered to $30 from $47 at BMO Capital

BMO Capital lowered the firm’s price target on Waystar (WAY) to $30 from $47 but keeps an Outperform rating on the shares after its Q4 earnings miss. The company’s fundamentals remain solid, though despite its strong execution, investor focus remains squarely on the perceived impact of AI across the business, the analyst tells investors in a research note. BMO adds however that Waystar is well-positioned to be a net beneficiary of advancements in AI, and the widening disconnect between its Rule of 50 financial profile and a 10-times expected forward EBITDA valuation presents a “compelling opportunity”.