JMP Securities Begins Coverage of Waystar Holding (WAY) with Positive Market Outlook

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On September 18, 2025, JMP Securities initiated coverage of Waystar Holding (NasdaqGS:WAY) with a Market Outperform recommendation, projecting a one-year price target averaging $50.76 per share, representing a 31.63% upside from its last closing price of $38.56.

As of September 13, 2025, 590 funds reported positions in Waystar, with total shares owned increasing by 7.75% to 167.39 million. The average portfolio weight for these funds rose to 0.32%, a 13.90% increase.

Key institutional stakeholders include Canada Pension Plan Investment Board, which saw an 18.94% decrease in shares owned, holding 24.96 million shares (14.33% ownership), and Bain Capital Investors, with a 20.49% decrease, holding 18.06 million shares (10.36% ownership).

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