Freedom Capital Markets has initiated coverage on Waystar Holding Corp (WAY) with a Hold rating, marking the firm's first assessment of the company's investment potential. This action, taken on November 20, 2025, comes as Waystar operates within the health care industry, providing critical cloud software solutions that simplify healthcare payments.
Headquartered in Lehi, Utah, Waystar employs approximately 1,500 full-time staff and went public on June 7, 2024. The company's enterprise-grade platform, Waystar, leverages artificial intelligence and proprietary algorithms to automate payment-related workflows, enhancing billing accuracy and reducing costs for healthcare providers. Its software is utilized daily by a wide range of clients, including physician practices, clinics, and large health systems.
As of the latest financial snapshot, Waystar's market capitalization stands at $6.8 billion, with a trailing P/E ratio of 61.60 and earnings per share (EPS) of $0.62. Upcoming earnings reports are anticipated on July 28, 2026, with an estimated EPS of $0.41 and revenue of $326.1 million, following a solid performance in Q3 2025 where the company reported an EPS of $0.37, exceeding estimates by 4.4%.
Analyst consensus reflects a generally positive outlook, with 7 Strong Buy, 13 Buy, 1 Hold, and no Sell ratings, resulting in an overall consensus rating of Buy as of November 1, 2025. The move underscores the growing interest in Waystar's innovative technology and its role in transforming healthcare payment processes.