Fintel reports that on September 5, 2025, Baird initiated coverage of Waystar Holding (NasdaqGS:WAY) with a Outperform recommendation.

Analyst Price Forecast Suggests 37.67% Upside

As of September 3, 2025, the average one-year price target for Waystar Holding is $51.26/share. The forecasts range from a low of $45.45 to a high of $56.70. The average price target represents an increase of 37.67% from its latest reported closing price of $37.23 / share.

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The projected annual non-GAAP EPS is 0.74.

What is the Fund Sentiment?

There are 589 funds or institutions reporting positions in Waystar Holding. This is an increase of 125 owner(s) or 26.94% in the last quarter. Average portfolio weight of all funds dedicated to WAY is 0.32%, an increase of 14.50%. Total shares owned by institutions increased in the last three months by 7.76% to 167,346K shares. The put/call ratio of WAY is 0.54, indicating a bullish outlook.

What are Other Shareholders Doing?

Canada Pension Plan Investment Board holds 24,964K shares representing 14.33% ownership of the company. In its prior filing, the firm reported owning 29,692K shares , representing a decrease of 18.94%. The firm decreased its portfolio allocation in WAY by 18.98% over the last quarter.

Bain Capital Investors holds 18,055K shares representing 10.36% ownership of the company. In its prior filing, the firm reported owning 21,755K shares , representing a decrease of 20.49%. The firm increased its portfolio allocation in WAY by 12.45% over the last quarter.

William Blair Investment Management holds 5,239K shares representing 3.01% ownership of the company. In its prior filing, the firm reported owning 4,227K shares , representing an increase of 19.31%. The firm increased its portfolio allocation in WAY by 28.18% over the last quarter.

Neuberger Berman Group holds 4,896K shares representing 2.81% ownership of the company. In its prior filing, the firm reported owning 4,762K shares , representing an increase of 2.76%. The firm decreased its portfolio allocation in WAY by 46.56% over the last quarter.

Alliancebernstein holds 3,269K shares representing 1.88% ownership of the company. In its prior filing, the firm reported owning 82K shares , representing an increase of 97.49%. The firm increased its portfolio allocation in WAY by 3,150.67% over the last quarter.