Waystar initiated with an Outperform at RBC Capital (yesterday)

RBC Capital analyst Sean Dodge initiated coverage yesterday morning of Waystar with an Outperform rating and $27 price target. Waystar is an industry-leader in the revenue cycle software space, where its modular offerings leverage its data and technology to improve the billing and collecting functions of its healthcare provider clients, the analyst tells investors in a research note. The firm remains “very positive” on the broader rev cycle macro backdrop and believes the company can sustain 10% organic revenue growth and 40%-plus EBITDA margins over the next three years.