Waystar Holding Corp. (WAY) Expands Its Reach in Healthcare Technology Solutions

Waystar Holding Corp. (NASDAQ:WAY) is one of the best US stocks to buy under $50. On January 16, analysts at BofA Securities reiterated a Buy rating and a $52 price target on Waystar Holding Corp. (NASDAQ:WAY). According to the research, the company is well-positioned to benefit as customers plan to replace and spend more on the revenue cycle.

The fact that 74% of hospitals don’t plan to change their revenue cycle vendors asserts the company’s outlook. That’s because it is an improvement from 60% as of the third quarter of last year.

Similarly, Wells Fargo initiated coverage of the stock with an Overweight rating and a $41 price target on January 9. According to the research firm, Waystar is a “rule-of-50 compounder with predictable, high-margin growth.”

While more than two-thirds of the company’s revenue comes from the ambulatory segment of the healthcare industry, the company dominates a fragmented market that competitors find difficult to penetrate. Likewise, the expanding reach of the company’s services segment represents a growing competitive edge.

Waystar Holding Corp. (NASDAQ:WAY) provides cloud-based software for healthcare organizations to simplify and automate the entire revenue cycle, from patient scheduling and insurance verification to billing, claims management, and payment collection, using AI and automation to improve accuracy, reduce costs, and speed up reimbursements for providers.

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Disclosure: None. This article is originally published at Insider Monkey.