Investors Buy High Volume of Waystar Put Options (NASDAQ:WAY)

Waystar Holding Corp. (NASDAQ:WAY) saw unusually large options trading activity on Tuesday. Stock investors purchased 5,167 put options on the stock. This represents an increase of 355% compared to the typical volume of 1,136 put options.

Waystar Price Performance

Shares of WAY stock traded up $1.34 during trading hours on Tuesday, hitting $23.75. 5,726,443 shares of the company’s stock were exchanged, compared to its average volume of 2,497,216. Waystar has a fifty-two week low of $21.13 and a fifty-two week high of $48.11. The firm has a market cap of $4.54 billion, a P/E ratio of 38.28, a P/E/G ratio of 0.28 and a beta of 0.77. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $29.66 and a two-hundred day moving average of $34.28.

Waystar (NASDAQ:WAY) last released its earnings results on Tuesday, February 17th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $303.54 million during the quarter, compared to analysts’ expectations of $294.72 million. Waystar had a return on equity of 6.83% and a net margin of 10.69%.The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the business earned $0.29 earnings per share. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. Sell-side analysts forecast that Waystar will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. UBS Group began coverage on Waystar in a report on Monday, December 15th. They set a “buy” rating and a $41.00 price objective for the company. The Goldman Sachs Group set a $44.00 price target on Waystar in a research note on Wednesday, January 14th. Barclays decreased their price objective on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. Canaccord Genuity Group set a $54.00 target price on shares of Waystar in a research report on Thursday, October 30th. Finally, Mizuho set a $42.00 price target on shares of Waystar in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $45.50.

Key Headlines Impacting Waystar

Here are the key news stories impacting Waystar this week:

• Positive Sentiment: Needham reiterated a Buy rating and $33 price target, citing AI-driven growth and solid execution — a supportive analyst view for the stock. Waystar: AI-Driven Growth and Solid Execution Underpin Buy Rating Despite Sector Valuation Pressure
• Positive Sentiment: Q4 revenue grew ~24% to ~$304M and adjusted EBITDA/margins remained strong; FY 2025 results show solid top-line growth and healthy adjusted profitability — supports medium-term growth narrative. Waystar Reports Fourth Quarter and Fiscal Year 2025 Results, Provides 2026 Guidance
• Positive Sentiment: Waystar was named an Inc. Best in Business honoree for AI — a reputational / product endorsement that can help sales momentum in AI-enabled healthcare payments. Waystar Recognized as Inc. Best in Business for AI
• Neutral Sentiment: FY2026 EPS guidance of $1.590–1.680 was issued and revenue guidance sits around $1.3B — roughly in line with consensus, so guidance is not a surprise and is unlikely to materially re-rate estimates. Waystar Reports Fourth Quarter and Fiscal Year 2025 Results, Provides 2026 Guidance
• Neutral Sentiment: Analyst / industry write-ups highlight a large addressable market and unconverted market share, a reminder of longer-term runway but not an immediate catalyst. Waystar Holding Corp.: A Lot Of Market Share Yet To Convert, In An Ever-Growing Market.
• Negative Sentiment: Q4 EPS of $0.36 missed consensus ($0.39), which is a near-term negative surprise despite the revenue beat; earnings miss can pressure multiples given valuation sensitivity. Waystar Holding (WAY) Q4 Earnings Lag Estimates
• Negative Sentiment: Unusually large put-option activity (5,167 puts, +355% vs. average) indicates elevated hedging or bearish positioning; this raises short-term volatility risk and suggests some investors are skeptical despite the revenue beat.

Insider Activity at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total transaction of $1,209,968.00. Following the sale, the insider owned 474,826 shares in the company, valued at $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $37.00, for a total transaction of $125,800.00. Following the completion of the sale, the chief marketing officer owned 193,261 shares in the company, valued at $7,150,657. This represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 71,650 shares of company stock valued at $2,258,535 in the last three months. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Institutional investors have recently bought and sold shares of the company. Blue Door Asset Management LLC raised its stake in Waystar by 404.8% in the fourth quarter. Blue Door Asset Management LLC now owns 402,300 shares of the company’s stock valued at $13,175,000 after buying an additional 322,600 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Waystar by 61.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,105,454 shares of the company’s stock worth $36,204,000 after acquiring an additional 421,220 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in Waystar by 2.2% during the fourth quarter. State of Wisconsin Investment Board now owns 217,631 shares of the company’s stock worth $7,127,000 after purchasing an additional 4,688 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Waystar by 78.8% in the fourth quarter. Captrust Financial Advisors now owns 268,703 shares of the company’s stock valued at $8,800,000 after purchasing an additional 118,424 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Waystar by 25.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,164,546 shares of the company’s stock valued at $103,639,000 after purchasing an additional 646,156 shares during the last quarter.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.