Waystar Holding Corp. (WAY) stock is soaring 5.13% in pre-market trading on Thursday, following the company's impressive second-quarter earnings report and raised full-year guidance. The healthcare technology firm has exceeded analyst expectations, prompting a wave of positive sentiment among investors and analysts alike.

In its Q2 2025 financial results released late Wednesday, Waystar reported adjusted earnings of $0.36 per diluted share, up from $0.26 a year earlier and surpassing the FactSet analyst consensus of $0.34. Revenue for the quarter ended June 30 climbed to $270.7 million, a significant increase from $234.5 million in the same period last year and comfortably beating analyst projections of $259.5 million.

Adding to the positive momentum, Waystar has raised its fiscal year 2025 outlook. The company now expects adjusted earnings of $1.36 to $1.40 per share, up from its previous guidance of $1.31 to $1.34. Revenue projections have also been boosted to a range of $1.03 billion to $1.04 billion, compared to the earlier forecast of $1.01 billion to $1.02 billion. This upward revision aligns closely with current analyst expectations, further bolstering investor confidence. In response to these strong results and optimistic outlook, several analysts have raised their price targets for Waystar. Canaccord Genuity increased its target price to $53 from $47, while TD Cowen maintained a Buy rating and boosted its price target to $54. Evercore ISI also reiterated its Buy rating with a price target of $45, underscoring the positive sentiment surrounding the stock.