Waystar price target lowered to $38 from $44 at Goldman Sachs

Goldman Sachs analyst Adam Hotchkiss lowered the firm’s price target on Waystar (WAY) to $38 from $44 and keeps a Buy rating on the shares. Waystar’s Q4 revenue and adjusted EBITDA beat consensus expectations, with 12% year over year organic revenue growth and 42.5% adjusted EBITDA margin, reflecting another quarter of material outperformance, the analyst tells investors in a research note. As the business continues to execute on sustained double-digit growth, prioritizes practical AI use cases in platform innovation, and resumes progress on deleveraging, Waystar has the potential to be increasingly viewed as a durable vertical software asset and command a wider premium to peer healthcare IT assets, Goldman argues.