Waystar's (WAY) Buy Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company reiterated a Buy on Waystar with a $33 price target, implying roughly a 30.6% upside from the prior close.
• Waystar beat Q1 estimates with $313.9M in revenue (+22.4% YoY) and GAAP EPS of $0.42, and management provided FY‑2026 EPS guidance of 1.590–1.680, indicating continued growth and margin strength.
• Several brokers have trimmed targets recently, but consensus remains a Moderate Buy with an average target of $36.65; key risks include a high ~41x P/E and the stock trading below its 200‑day moving average.

Waystar (NASDAQ:WAY - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $33.00 target price on the stock. Needham & Company LLC's target price would suggest a potential upside of 30.59% from the company's previous close.

A number of other brokerages have also recently issued reports on WAY. Canaccord Genuity Group lowered their target price on Waystar from $54.00 to $30.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. The Goldman Sachs Group lowered their target price on Waystar from $44.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Truist Financial reduced their price target on Waystar from $51.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reduced their price target on Waystar from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, March 12th. Finally, Wells Fargo & Company reduced their price target on Waystar from $41.00 to $36.00 and set an "overweight" rating on the stock in a research report on Thursday, February 19th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.65.

Waystar Stock Performance

NASDAQ:WAY opened at $25.27 on Thursday. The stock has a market cap of $4.84 billion, a P/E ratio of 41.43, a PEG ratio of 1.00 and a beta of 0.87. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $24.65 and a 200 day simple moving average of $29.80. Waystar has a 1-year low of $20.93 and a 1-year high of $42.55.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Waystar had a return on equity of 6.86% and a net margin of 10.20%.The firm had revenue of $313.87 million during the quarter, compared to analysts' expectations of $311.72 million. During the same period in the previous year, the firm earned $0.32 EPS. The company's quarterly revenue was up 22.4% compared to the same quarter last year. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. Research analysts anticipate that Waystar will post 1.46 earnings per share for the current year.

Institutional Trading of Waystar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Waystar by 11.3% during the first quarter. Royal Bank of Canada now owns 21,609 shares of the company's stock valued at $808,000 after purchasing an additional 2,195 shares during the period. AQR Capital Management LLC purchased a new position in shares of Waystar in the first quarter worth about $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Waystar by 91.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company's stock worth $1,753,000 after purchasing an additional 22,364 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of Waystar in the first quarter worth about $234,000. Finally, Goldman Sachs Group Inc. boosted its position in Waystar by 13.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 747,268 shares of the company's stock valued at $27,918,000 after acquiring an additional 88,256 shares in the last quarter.

More Waystar News

Here are the key news stories impacting Waystar this week:

• Positive Sentiment: Q1 results beat and strong profitability — Waystar reported Q1 revenue of $313.9M (+22% YoY) and GAAP EPS $0.42 vs. the $0.39 consensus; adjusted EBITDA and net‑income margins were robust (adjusted EBITDA ~43%, net income margin ~14%), signaling healthy operating leverage. Waystar Reports First Quarter 2026 Results
• Positive Sentiment: FY‑2026 guidance set and revenue scale — Management provided an EPS range of $1.590–$1.680 and revenue guidance around $1.3B for FY‑2026, which keeps full‑year growth expectations intact and limits downside surprise risk. That guidance range overlaps the Street consensus, supporting confidence in forward cash flow. Waystar Q1 2026 Slide Deck / Press Release
• Positive Sentiment: Product roadmap — Management emphasized new AltitudeAI tools that could enhance claim‑denial automation, analytics and margins over time; investors view this as a potential long‑term margin and differentiation catalyst if adoption accelerates. Could Waystar’s New AltitudeAI Tools Quietly Redefine Its Data Moat And Margins Narrative (WAY)?
• Neutral Sentiment: Guidance is broadly in line with Street — while the EPS range implies continued growth, it did not represent a material upside revision versus consensus; the range leaves room for execution risk and is therefore a near‑term neutral for the share reaction. Waystar (WAY) Reports Q1 Earnings: What Key Metrics Have to Say
• Negative Sentiment: Beat magnitude was modest and leaves execution questions — EPS beat was only $0.03 and revenue beat was slight; investors who were looking for a clear upside re‑rating may be disappointed if management doesn’t show accelerating margin expansion or faster ARR-like revenue. Waystar Holding (WAY) Q1 Earnings and Revenues Surpass Estimates
• Negative Sentiment: Technical/valuation headwinds — WAY trades well below its 200‑day average and far under its 52‑week high, and current P/E (~41) implies high growth expectations; any slowdown in execution could pressure the multiple. Waystar Stock Page

Waystar Company Profile

Waystar NASDAQ: WAY is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company's unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar's offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.

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