2026-10-25
Waystar clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
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latest tape · as of 20:03 UTC
The Screen · Healthcare · Health Information Services
Waystar Holding Corp.
WAY · Nasdaq · USD · Market cap $5.7B · 1,700 employees
Waystar Holding Corp.
Not yet scored29.69 USD
Price as of 4 Nov 2026Daily close, not a live quote
Screened 2026-11-04 · the tape above runs as of 20:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
- Price29.69 USD at the 4 Nov 2026 close
- Our value readUndervalued vs our fair value, as of 4 Nov 2026
- Our regime readAccumulation, as of 4 Nov 2026
- Ethical screenNot yet scored
- OptionsOpen interest leans heavily to calls (put/call 0.05)
- Last reviewed4 Nov 2026 (1 days ago)
- Release timesRelease and earnings times on your chart: Event Guard Mentor
A summary of the dated readings below, not a live quote and not advice.
PRICE · ONE YEAR
Our fair-value range: $31.26 to $52.10, base estimate $37.59 (screen dated 2026-11-04).
- Trend Accumulation
- Insiders insiders sold, $2,163,868, latest filing 2026-10-06
- Positioning no disclosures inside 60 days, left as found
- Options put/call open interest 0.05, read 2026-11-05
- Ethical screen not yet scored
Price29.69 USD
Fair value37.59
Ethical score70.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-10-11Read Markup24.81+19.7% to today ✓Distribution gives way to Markup first Markup read since September
2026-10-02Read Distribution25.71+15.5% to today Markup gives way to Distribution after a 6% rise in 7 weeks
2026-08-16Read Markup24.23+22.5% to today ✓Distribution gives way to Markup after a 29% rise in 6 weeks
2026-07-02Read Distribution18.75+58.3% to today First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The full research record, in depth, below
This name holds its accumulation label.
Waystar Holding Corp. holds its Accumulation at $29.69. The statistical read favours the buyers, held for 6 days.
| Phase | Accumulation |
| Quantitative state | The statistical read favours the buyers, held for 6 days |
| Price at the screen | $29.69 |
| Valuation | 43.03 trailing · 15.67 forward price to earnings |
| Values screen | Not scored · score 70.0 |
| Beta | 0.11 |
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
| Test | Figure | Limit | What it means | Status |
|---|---|---|---|---|
| Business activity | Permissible | Core business clean | Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending. | Pass |
| Debt load | 25.77% | Below 33% | Interest-bearing debt is just 25.8% of its assets, well under the one-third ceiling: it does not run on borrowed money. | Pass |
| Interest-bearing cash | 0.43% | Below 33% | Cash held in interest-bearing accounts and securities is 0.4% of assets, under the one-third limit. | Pass |
| Receivables | 4.12% | Below 49% | Money owed to the company is 4.1% of assets, under the 49% limit. | Pass |
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical ReadThe Read, in Plain English
Waystar clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
Clears
Waystar clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 26%, inside the ~33% line, and almost none of its income is interest, so it passes.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
What the Numbers Say It Is WorthThe Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 21% discount to our $37.59 fair value, 21.20% revenue growth.
How a fair value is estimated: discounted cash flow (DCF).
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 21.0% discount to the base estimate.
Third-party analyst targets: 22 covering, consensus Strong Buy. The average target sits +13% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & ProjectionsWhere our models see it going: fair-value estimate $37.59, with a range of $31.26 to $52.10, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain WordsHealthcare billing still runs on broken rails
Every hospital claim or patient payment still fights through a tangle of insurers, legacy systems and manual checks that most software ignores. Waystar supplies the cloud platform that clears financials, manages denials and captures revenue in one place. The business is expanding revenue 22% a year at a forward multiple of 12 times earnings, with our fair value sitting well above the current price and a clean ethical pass.
Yet return on equity sits at just 4% and profit margins reach only 11%, while the moat remains unknown. Analyst targets cluster around 33 dollars and the consensus is strong buy, but none of that shifts our opportunity rating from none. Low capital returns suggest the growth may not translate into durable owner earnings.
The thin returns flag a business that could stay capital intensive and competitively exposed even as the market expands. Execution risk in health tech therefore outweighs the headline numbers. Analysis, not advice.
| Forward P/E | 15.7xcheap for a company growing this fast |
| Trailing P/E | 43.0xexpensive: the price assumes strong growth ahead |
| EPS, trailing | 0.69 |
| EPS, forward | 1.89 |
| Revenue growth | +21.2%strong top-line growth |
| Profit margin | 10.7%thin but positive margins |
| Return on equity | 3.7%a modest return on shareholder capital |
| FCF yield | 6.14% |
| Debt to equity | 0.37minimal debt: a conservative balance sheet |
| Current ratio | 2.10comfortably covers its short-term bills |
| Beta | 0.11barely tracks the market's swings |
| Short interest, float | 0.09% |
| 52-week range | 17.26 - 37.51 |
| Market cap | $5.7B |
| Employees | 1,700 |
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to TradeWAY trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
Every Entry, As Written
2026-11-02
Markup $28.00
+0.0% Entry 17
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01
Markup $28.00
-2.9% Entry 16
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 2.9% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31
Markup $28.85
+0.0% Entry 15
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30
Markup $28.85
+0.0% Entry 14
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29
Markup $28.85
+0.1% Entry 13
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.1% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28
Markup $28.81
+0.0% Entry 12
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27
Markup $28.81
+0.0% Entry 11
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26
Markup $28.81
+0.0% Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25
Markup $28.81
+2.0% Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading bullish. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter.
2026-10-18
Markup $28.24
+13.8% Entry 8
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 13.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 54%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (23 analysts) rates it strong buy, with a mean price target of $34. Insiders have been net sellers over the past quarter.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
- New Waystar and Modern Healthcare Research Reveals Significant Gaps in Providers' Ability to Prevent Payer Recoupments Yahoo Finance · 14d ago
- Waystar (WAY) Stock Could Be Reasonable Given Its Cash Flow Upside Yahoo Finance · 16d ago
- Waystar to Report Third Quarter 2026 Financial Results on November 2, 2026 Yahoo Finance · 22d ago
- Waystar Holding (WAY) Is Considering A Return To Private Ownership Simply Wall St. · 20 Sep 2026
- Waystar Holding (WAY) Is Considering A Return To Private Ownership Yahoo Finance · 20 Sep 2026
Headlines from third-party outlets, linked for reference: not our reporting, not advice.
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| Date | Insider | Title | Type | Shares | Value |
|---|---|---|---|---|---|
| 2026-10-06 | Hawkins Matthew J. | CEO | S - Sale+OE | 82,500 | $2,163,868 |
Public filings, recorded as found. The full tape lives at Insider Intelligence.
| Date | Politician | Party | Type | Amount |
|---|---|---|---|---|
| 2026-10-15 | Pete Sessions | Republican | sell | 15K–50K |
| 2026-09-24 | Maria Elvira Salazar | Republican | sell | 1K–15K |
| 2026-09-22 | Diana Harshbarger | Republican | sell | 50K–100K |
| 2026-09-22 | Diana Harshbarger | Republican | buy | 50K–100K |
| 2026-09-22 | Diana Harshbarger | Republican | sell | 50K–100K |
| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $19.90 | -5.5% | · | $945 | -5.5% |
| 2 months | $21.50 | -12.6% | · | $874 | -12.6% |
| 3 months | $24.61 | -23.6% | · | $764 | -23.6% |
| 6 months | $32.46 | -42.1% | · | $579 | -42.1% |
| 1 year | $40.63 | -53.7% | · | $463 | -53.7% |
| 2 years | $22.10 | -14.9% | · | $851 | -14.9% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever WAY does next, these words stay.
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