Stock Traders Purchase High Volume of Put Options on Waystar (NASDAQ:WAY)

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

Waystar Trading Up 6.0%

Shares of WAY stock traded up $1.34 during mid-day trading 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. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 38.28, a PEG 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. Waystar has a fifty-two week low of $21.13 and a fifty-two week high of $48.11. The stock has a 50-day simple moving average of $29.66 and a two-hundred day simple 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 the consensus estimate of $0.39 by ($0.03). The business had revenue of $303.54 million for 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 business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. Equities analysts expect that Waystar will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on WAY. Mizuho set a $42.00 price objective on Waystar in a research report on Wednesday, February 4th. BMO Capital Markets initiated coverage on shares of Waystar in a report on Thursday, November 13th. They issued an “outperform” rating and a $47.00 price target for the company. Needham & Company LLC initiated coverage on shares of Waystar in a report on Tuesday, November 11th. They set a “buy” rating and a $46.00 price objective on the stock. Citigroup lowered their target price on shares of Waystar from $49.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Finally, Leerink Partners assumed coverage on shares of Waystar in a report on Monday, February 2nd. They issued an “outperform” rating and a $43.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $45.50.

More Waystar News

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.

Insiders Place Their Bets

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar 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 transaction, the chief marketing officer owned 193,261 shares of the company’s stock, valued at $7,150,657. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 474,826 shares of the company’s stock, valued at approximately $14,282,766.08. This trade represents a 7.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 71,650 shares of company stock valued at $2,258,535. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Waystar

A number of large investors have recently bought and sold shares of WAY. Salomon & Ludwin LLC acquired a new position in Waystar in the 3rd quarter worth $25,000. ANTIPODES PARTNERS Ltd increased its position in shares of Waystar by 120.1% during the third quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after acquiring an additional 449 shares during the last quarter. First Horizon Corp acquired a new position in shares of Waystar in the third quarter worth about $38,000. Nisa Investment Advisors LLC boosted its holdings in Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after purchasing an additional 358 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Waystar by 6,005.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock valued at $38,000 after purchasing an additional 1,141 shares in 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.