JMP Securities has initiated coverage on Waystar Holding Corp (WAY) with a Market Outperform rating as of September 17, 2025. This marks the firm's first assessment of the company's investment potential, reflecting their analysis of the business, industry dynamics, and growth prospects.
Waystar Holding Corp, headquartered in Lehi, Utah, provides healthcare organizations with mission-critical cloud software that simplifies healthcare payments. The company employs 1,500 full-time staff and went public on June 7, 2024. Its enterprise-grade platform streamlines complex processes using internally developed artificial intelligence and proprietary algorithms, enhancing claim and billing accuracy while reducing labor costs for providers.
Currently, Waystar has a market capitalization of $6.8 billion, a price-to-earnings ratio of 61.60, and earnings per share of $0.62. The upcoming earnings report is scheduled for July 28, 2026, with an estimated EPS of $0.41 and revenue of $326.1 million.
As of November 1, 2025, the analyst consensus includes 7 Strong Buy, 13 Buy, and 1 Hold rating, reflecting a general positive outlook on the stock. Recent analyst actions include Baird initiating coverage with an Outperform rating and Mizuho also starting coverage with an Outperform rating in June 2025.
Analyst ratings provide insights based on research and financial models but should be considered alongside company fundamentals and market conditions. They can change as new information emerges.