---
title: "Waystar: Buy Rating Backed by Strong Q1 Beat, AI-Driven RCM Leadership, and Attractive Risk/Reward Valuation"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284652530.md"
description: "William Blair analyst Ryan Daniels has maintained a Buy rating on Waystar (WAY) due to its strong Q1 performance, exceeding revenue and EBITDA expectations despite industry challenges. The company's leadership in AI-driven revenue cycle management and new product innovations are seen as growth drivers. With the stock trading at approximately 10x the 2027 EBITDA estimate, Daniels finds the risk/reward profile attractive. J.P. Morgan also supports this view with a Buy rating and a $40 price target."
datetime: "2026-04-29T22:05:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284652530.md)
  - [en](https://longbridge.com/en/news/284652530.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284652530.md)
---

# Waystar: Buy Rating Backed by Strong Q1 Beat, AI-Driven RCM Leadership, and Attractive Risk/Reward Valuation

William Blair analyst Ryan Daniels has maintained their bullish stance on WAY stock, giving a Buy rating on April 17.

### Claim 55% Off TipRanks

-   Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
-   Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

Ryan Daniels has given his Buy rating due to a combination of factors, including Waystar’s solid first-quarter performance and resilience amid softer industry volumes. Despite lighter procedure volumes from weather, flu patterns, and policy changes, the company exceeded expectations on revenue, adjusted EBITDA, and bookings, supported by robust recurring subscription growth that offset weaker volume-based sales.

Daniels also points to Waystar’s leadership in AI-driven revenue cycle management and its ability to expand its addressable market through new offerings and innovation, such as recent product launches and the Spring 2026 Innovation Showcase. He views the ongoing integration and cross-selling potential of Iodine as an additional growth lever, and with the stock trading around 10x his 2027 EBITDA estimate, he sees room for some multiple expansion and upside to forecasts, making the current risk/reward profile attractive.

Daniels covers the Healthcare sector, focusing on stocks such as Healthcare Services, TransMedics Group, and HealthStream. According to TipRanks, Daniels has an average return of \-0.1% and a 42.52% success rate on recommended stocks.

In another report released on April 17, J.P. Morgan also maintained a Buy rating on the stock with a $40.00 price target.

### Related Stocks

- [WAY.US](https://longbridge.com/en/quote/WAY.US.md)
- [TMDX.US](https://longbridge.com/en/quote/TMDX.US.md)
- [HSTM.US](https://longbridge.com/en/quote/HSTM.US.md)
- [JPM.US](https://longbridge.com/en/quote/JPM.US.md)
- [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md)
- [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md)
- [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md)
- [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md)
- [8634.JP](https://longbridge.com/en/quote/8634.JP.md)
- [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md)
- [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md)

## Related News & Research

- [Waystar Announces $200 Million Share Repurchase Authorization, Reflecting Confidence in Long-Term Outlook | WAY Stock News](https://longbridge.com/en/news/286907763.md)
- [Jim Cramer Says Nvidia Should Stay Inside China’s AI Boom, Not Walk Away](https://longbridge.com/en/news/286804523.md)
- [Figma's Stock Rally Fueled by New AI Monetization Strategy](https://longbridge.com/en/news/286535428.md)
- [Zscaler (ZS) Stock Jumps after 5-Star Analyst Says 'AI Is an Opportunity, Not a Threat'](https://longbridge.com/en/news/286824294.md)
- [AI is not replacing workers on a large scale so far, says Bank of Canada](https://longbridge.com/en/news/286540351.md)