---
title: "Wells Fargo’s Berenshteyn Reaffirms Buy on Waystar After Q2 Beat and Guidance Raise, While Modestly Lowering Price Target on More Conservative EBITDA Multiple"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294345697.md"
description: "Wells Fargo analyst Stan Berenshteyn reaffirmed a Buy rating on Waystar Holding Corp. with a $33 price target, citing Q2 revenue and EBITDA beats, strong subscription growth, and raised full-year guidance. The target was modestly lowered to reflect a more conservative EBITDA multiple. Barclays also maintained a Buy rating with a $25 target."
datetime: "2026-07-30T10:25:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294345697.md)
  - [en](https://longbridge.com/en/news/294345697.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294345697.md)
generator: "portal-rs"
---

# Wells Fargo’s Berenshteyn Reaffirms Buy on Waystar After Q2 Beat and Guidance Raise, While Modestly Lowering Price Target on More Conservative EBITDA Multiple

Stan Berenshteyn, an analyst from Wells Fargo, maintained the Buy rating on Waystar Holding Corp.. The associated price target is $33.00.

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Stan Berenshteyn has given his Buy rating due to a combination of factors related to Waystar’s operating performance and strategic positioning. The company delivered second-quarter revenue and adjusted EBITDA modestly above both Wells Fargo and consensus expectations, with margins already running ahead of full-year guidance, supported by favorable mix and disciplined cost management.

Stan Berenshteyn’s rating is based on Waystar’s expanding growth runway from new products, AI-enabled solutions, and platform consolidation opportunities rather than relying solely on new account wins. Robust subscription growth, healthy net revenue retention, improving leverage, solid bookings trends, and a slight upward revision to full-year guidance underpin his conviction, even as he trims the price target to reflect a more conservative multiple on higher forward EBITDA estimates. 

In another report released today, Barclays also maintained a Buy rating on the stock with a $25.00 price target.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**