Waystar price target lowered to $37 from $41 at UBS

UBS analyst Kevin Caliendo lowered the firm’s price target on Waystar (WAY) to $37 from $41 and keeps a Buy rating on the shares. The company delivered solid Q1 results with revenue and subscription revenue ahead of expectations and EBITDA margins above both prior levels and long-term targets, indicating strong underlying profitability, the analyst tells investors in a research note. However, Waystar kept FY26 guidance unchanged and slightly softened its near-term growth cadence, which may pressure sentiment given its historical pattern of progressively raising expectations over the year, the firm says.