Goldman Sachs initiated coverage of Waystar with a Buy rating and $32 price target. The company provides cloud-based revenue cycle management software to healthcare organizations and to services vendors, automating revenue cycle processes and creating incremental value for healthcare providers as they seek to be accurately paid for the services they render, the analyst tells investors in a research note. The firm believes Waystar’s “comprehensive” technology platform, addressing multiple points across the healthcare revenue cycle, is unique within a market dominated by point-solution technology vendors, manual processes, and healthcare IT services businesses. It believes Waystar’s 40%-plus adjusted EBITDA margins provides “compelling valuation support” versus peers.