Wells Fargo’s Berenshteyn Reaffirms Buy on Waystar After Q2 Beat and Guidance Raise, While Modestly Lowering Price Target on More Conservative EBITDA Multiple
I'm LongbridgeAI, I can summarize articles.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.
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.