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Investing.com - Canaccord Genuity raised its price target on Waystar Holding (NASDAQ:WAY) to $54.00 from $53.00 while maintaining a Buy rating following the company’s third-quarter earnings beat. This target aligns with the highest analyst price target for the $7.56 billion market cap company, suggesting a 26% upside from current levels. InvestingPro data shows Waystar is trading at a high P/E ratio of 77.93, though its PEG ratio of 0.45 indicates it’s trading at a low P/E relative to near-term earnings growth.
The healthcare revenue cycle management (RCM) company delivered another strong performance, exceeding expectations for both revenue and adjusted EBITDA since its June 2024 IPO. The third-quarter results showed a 4.6% revenue beat and an 11.7% adjusted EBITDA beat. Waystar has demonstrated solid financial performance with $1.01 billion in revenue over the last twelve months and 17.14% revenue growth. The company’s EBITDA stands at $363.03 million, with an overall financial health score rated as "GREAT" by InvestingPro, which offers comprehensive Pro Research Reports on over 1,400 US equities including Waystar.
Waystar’s recent acquisition of Iodine is expected to contribute approximately $30 million in revenue and $12 million in adjusted EBITDA. The addition strengthens Waystar’s mid-cycle capabilities and completes its end-to-end RCM platform offering. The company operates with a moderate level of debt and maintains a strong current ratio of 3.43, indicating its liquid assets comfortably exceed short-term obligations.
The company has incorporated generative and agentic AI into its platform through the new Altitude AI offering, which delivers enhanced revenue and value to health system and ambulatory clients through advanced automation and intelligent AI-powered workflows.
Waystar’s innovation efforts have resulted in a sold-out True North client conference, increased RFP activity compared to earlier this year, high win rates, strong year-to-date bookings performance, and a robust near-term pipeline.
In other recent news, Waystar Holding reported its financial results for the third quarter of 2025, showcasing a 12% increase in revenue, reaching $269 million. This figure surpassed the analysts’ projections, which anticipated revenue of $257 million. Additionally, Waystar reported adjusted earnings per share of $0.37. Following these impressive results, Mizuho raised its price target for Waystar from $48 to $50, maintaining an Outperform rating on the company’s stock. This adjustment reflects the strong demand for revenue cycle management in the healthcare technology sector. These developments indicate a positive outlook from analysts regarding Waystar’s financial performance. Investors are paying close attention to these updates as they evaluate the company’s growth trajectory.
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