Waystar Holding (WAY) PT Lowered to $37 at UBS

UBS analyst Kevin Caliendo lowered the price target on Waystar Holding (NASDAQ: WAY) to $37.00 (from $41.00) while maintaining a Buy rating.

The analyst comments "Overall, we view 1Q results as solid, with revenue ($313.9M) ~1.2% above UBSe, subscription revenue ($172.2M) above consensus, and adj. EBITDA margin of ~43% above both the 4Q25 level and the company's ~40% long-term target. That said, management left FY26 guidance unchanged and updated near-term cadence, now expecting 2Q to be roughly flat sequentially and 3Q to grow ~1-3%, compared with prior commentary for 1-3% sequential growth through the year. We expect the stock will be weak because of this, particularly given WAY's history of incrementally raising guidance over the year."

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