Waystar Stock Surges Amid Potential Sale Reports, Oracle Named Top Contender
Waystar, a healthcare software company, saw its shares jump over 8% on Tuesday after reports emerged that it is exploring a potential sale. The company has hired investment bank Evercore to explore strategic options, including a possible acquisition.
RBC Capital analyst Ryan Halsted stated that private-market valuations for healthcare software companies have remained stronger than public-market valuations, making Waystar an attractive target for acquirers. The analyst named Oracle as the 'obvious first name' among potential buyers, followed by UnitedHealth Group's Optum.
Evercore ISI called the report 'surprising', but said exploring a deal makes sense given Waystar's roughly 24% decline this year. The firm maintained an 'Outperform' rating and $28 price target on the stock.