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Stock Ratings / Technology / WAY / options
APLD (37) PSN (58) BILI (53) PEGA (71) ⌘ Pro Terminal →

Waystar Holding Corp. (WAY) Options Positioning, Max Pain & Unusual Sweeps

$28.14 +0.50% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $28.11

Waystar Holding Corp. (WAY) carries a Roarable Rating of C (Hold) with 63/100 RQD Confidence. The composite score sits in the neutral Hold band (59–69), meaning current holders don’t need to panic-sell while prospective buyers can wait for a move into the 70+ Buy zone.

ROARABLE C • HOLD / WATCH Cap $5.37B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on WAY Below — or Connect Your Own ChatGPT / Claude
🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is WAY stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Waystar Holding Corp. (NASDAQ: WAY) is rated C (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 63/100 at a spot price of $28.14 (+0.50% 1D, market cap $5.37B). Pillar breakdown: Fundamental Cash Engine 11/20, Institutional 13F & Options Flow 14/20, SEC Balance-Sheet Forensics 13/20, FRED Macro Regime Fit 13/20, and Executive Insider Alignment 12/20. Across 715 tracked Technology issuers, WAY ranks #168 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does WAY compare to APLD and PSN in the Technology sector?
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Within the Technology sector (EDP Services), WAY carries a Roarable C (63/100 RQD), trailing P/E of 48.3x, gross margin of —, and ROIC of 3.7%. By comparison, APLD (Applied Digital Corporation) holds a D- grade (37/100 RQD, P/E N/A, ROIC -21.7%, cap $5.39B) and PSN (Parsons Corporation) posts a D+ grade (58/100 RQD, P/E 21.6x, ROIC 9.7%, cap $5.35B). Among the 5-stock peer group, PEGA leads on earnings multiple (14.2x) while PEGA leads on capital efficiency (22.4% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for WAY?
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Per WAY's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001990354), Waystar Holding Corp. generated $1.10B in revenue (+16.5% YoY), $112.1M in net income, and $260.2M in free cash flow against $5.79B in total assets and $1.46B in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Priced at 48x earnings—high expectations leave less room for a lukewarm quarter. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $28.11 (-0.10%)🧬 Cannibal Buyback (-1.24% YoY Shares)⚙️ Cash Engine: 11/20 (D+) • 23.7% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 63/100 (C) historically posted market-perform odds over rolling 90-day windows (+0.9% avg 90D alpha vs SPY • 54.8% hit rate — wait for RQD ≥ 70 breakout).
Audit Bucket Track Record →
RQD QUANT TACHOMETERHOLD / WATCH • C
025507510063
JEV AI Jury Split (Battleground)
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw C · Rk C
Cash (11)Whales (14)SEC (13)Macro (13)CEO (12)
Each axis scored 0–20
12M PRICE TARGET CONE+2.2% Base Target
$40 Bull$29 Base$22 Bear
📬 FREE WAY RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for WAY)Realized 20D OHLCV Swing Band: ±7.4%
Deterministic 5-Pillar Attribution (63/100 Composite)
🔍 WHY WAY SCORES 63/100 (C) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Whale & Options Positioning+14/20 pts (22% of score)

20D Institutional Volume Accumulation (±7.4% realized swing band)

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+13/20 pts (21% of score)

Altman Z-Score 2.03 (WATCH ZONE (1.8–3.0)) • Piotroski F-Score 9/9

▼ #1 Drag / Risk Factor: Cash Engine Quality11/20 pts (-9 pt drag)

Capital intensity & 22.7% operating margin leave 9 pts on the table

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
55
Grade C$26.87+7.3% Next Q
Q2 (-2Q)
58
Grade C$28.84+0.3% Next Q
Q3 (-1Q)
60
Grade C$28.92-2.7% Next Q
Current
63
Grade C$28.14+0.9% Hist 90D α
Trajectory: C (55) → C (63)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the WAY Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 63/100 (C) score, WAY faces multiple-compression risk if 48.3x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Priced at 48x earnings—high expectations leave less room for a lukewarm quarter.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-1.24% YoY Shares) — any gross margin slip below 49.5% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($26.36) or 200D SMA ($23.86) invalidates the momentum regime and cuts Target Base ($28.77) toward Bear Floor ($22.44).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $WAY• $4.8M Crowd Pool • Kalshi / Polymarket Composite
Contract: “WAY Beats Next Quarterly Revenue & EPS Consensus + Hyperscaler AI CapEx Holds Record Pace”
YES 63%NO 37%Trade / Inspect Odds →
CALL VS. PUT WHALE SHARE
— (No Active Options Snapshot)
Put/Call Ratio: — (No Active Options Snapshot)
MAX-PAIN EXPIRATION MAGNET
— (No Active Options Snapshot)
No active options chain max-pain snapshot on file
HISTORICAL 20D VOLATILITY SWING
±7.4%
Derived from 20D OHLCV bars (No Active Options Snapshot)

Active Strike Call vs. Put Concentration Ladder (WAY)

— (No Active Options Snapshot) — No unusual CBOE strike concentration anomalies recorded in the current database snapshot for WAY.

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ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher + Options & Swing Structure Desk

Whale Flow & Momentum Playbook: Evaluating WAY & AI Leaders Without Chasing Tops

  • ✓Institutional whale strikes & implied earnings move audit on WAY
  • ✓How disciplined traders manage risk using pre-published trigger & invalidation levels
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on tracked leaders
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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WAY // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +34.77%▲ ASCENDING CHANNEL
2026-11-03O $28.21H $28.21L $28.00C $28.14VOL 1.26M
RES: $29.81SUP: $26.73SMA50: $26.36SMA200: $23.86
$32.83$28.61$24.39$20.17$15.95RES $29.81SUP $26.73$28.142026-05-042026-06-182026-08-052026-09-212026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

WAY Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 WAY Butterfly Map → + Track WAY →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
35.4%/yr Implied 5Y Growth

vs. +16.5% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on WAY today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for WAY. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for WAY today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (WAY)

Technology Rank #168 of 715 ⚔️ APLD vs WAY Full Matrix →

1. Head-to-Head Technology Peer Comparison (WAY vs. APLD, PSN, BILI, PEGA)

Industry: EDP Services (163 Tracked Issuers)

Across 715 tracked Technology securities in the Roarable RQD universe, Waystar Holding Corp. (WAY) ranks #168 by composite RQD confidence (63/100, grade C) and #209 by equity capitalization ($5.37B). Within this direct 5-issuer industry benchmark cohort, PEGA leads on earnings valuation at 14.2x trailing P/E, while PEGA leads on capital efficiency and profitability with 22.4% ROIC and 75.9% gross margin. PEGA currently holds the highest overall quantitative score in the immediate peer group at 71/100 (B-) compared with WAY at 63/100 (C).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
WAY ACTIVE
Waystar Holding Corp.
C 63/100 48.3x — 3.7% +0.50% $5.37B Benchmark Subject
APLD
Applied Digital Corporation
D- 37/100 — 35.1% -21.7% -8.95% $5.39B /apld-vs-way →
PSN
Parsons Corporation
D+ 58/100 21.6x 22.5% 9.7% +4.46% $5.35B /psn-vs-way →
BILI
Bilibili Inc.
D+ 53/100 31.4x 36.6% 10.9% +6.55% $5.28B /bili-vs-way →
PEGA
Pegasystems Inc.
B- 71/100 14.2x 75.9% 22.4% +1.92% $5.55B /pega-vs-way →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001990354 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Waystar Holding Corp. (WAY) reported GAAP revenue of $1.10B (+16.5% vs. FY2024 revenue of $943.5M , and +39.0% cumulative change since FY2023) , GAAP net income of $112.1M, operating cash flow of $309.7M, and free cash flow of $260.2M (+104.4% YoY). On the balance sheet, WAY closed FY2025 with $5.79B in total assets against $1.46B in total debt (Altman Z-Score: 2.03, Piotroski F-Score: 9/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $1.10B $112.1M $309.7M $260.2M $5.79B $1.46B
FY2024 (FY) 2024-12-31 $943.5M -$19.1M $169.8M $127.3M $4.58B $1.22B
FY2023 (FY) 2023-12-31 $791.0M -$51.3M $51.5M $15.9M $2.98B $696.2M

3. WAY Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is WAY stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Waystar Holding Corp. (NASDAQ: WAY) is rated C (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 63/100 at a spot price of $28.14 (+0.50% 1D, market cap $5.37B). Pillar breakdown: Fundamental Cash Engine 11/20, Institutional 13F & Options Flow 14/20, SEC Balance-Sheet Forensics 13/20, FRED Macro Regime Fit 13/20, and Executive Insider Alignment 12/20. Across 715 tracked Technology issuers, WAY ranks #168 in composite RQD confidence.

How does WAY compare to APLD and PSN in the Technology sector?

Within the Technology sector (EDP Services), WAY carries a Roarable C (63/100 RQD), trailing P/E of 48.3x, gross margin of —, and ROIC of 3.7%. By comparison, APLD (Applied Digital Corporation) holds a D- grade (37/100 RQD, P/E N/A, ROIC -21.7%, cap $5.39B) and PSN (Parsons Corporation) posts a D+ grade (58/100 RQD, P/E 21.6x, ROIC 9.7%, cap $5.35B). Among the 5-stock peer group, PEGA leads on earnings multiple (14.2x) while PEGA leads on capital efficiency (22.4% ROIC).

What are the biggest fundamental strengths and SEC risk factors for WAY?

Per WAY's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001990354), Waystar Holding Corp. generated $1.10B in revenue (+16.5% YoY), $112.1M in net income, and $260.2M in free cash flow against $5.79B in total assets and $1.46B in total debt. Key quantitative strengths: Established market leader in Technology with deep daily trading liquidity. Primary risk factors monitored: Priced at 48x earnings—high expectations leave less room for a lukewarm quarter. Institutional options positioning shows a 50% call / 50% put premium split.

Where is WAY trading relative to its 50-day, 200-day, and 52-week technical levels?

WAY last traded at $28.14 (+0.50% on volume of 2,928,899 shares), positioning the stock +6.75% above its 50-day simple moving average ($26.36) and +17.94% above its 200-day simple moving average ($23.86). Across its 52-week range of $17.26 to $37.71, WAY sits at the 53.2% percentile with a 14-day RSI of 54.7 (NEUTRAL RANGE) and an implied next-earnings move of ±7.4% ($26.06 to $30.22).

Direct Sub-Reports: WAY RQD Cockpit WAY 12M Forecast WAY Earnings & Move WAY Dividends & DRIP WAY Insiders & 13F WAY Whale Options WAY Profit Sankey WAY News & Why
ROARABLE RATING BRIEF • RQD 63/100 (C) ✓ SEC XBRL & RQD VERIFIED

WAY — Waystar Holding Corp.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Waystar Holding Corp. (WAY) earns a live Roarable RQD composite score of 63/100, corresponding to a C letter grade (Roarable Hold) at a spot price of $28.14 (+0.50% 1D, market capitalization $5.37B).

  • Fundamental Cash Engine (11/20): Anchored by return on invested capital (ROIC) of 3.7%, gross margin of —, operating margin of 22.7%, and free cash flow yield of 4.81%.
  • Whale 13F & Options Flow (14/20) + Insider Conviction (12/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (13/20) + Forensic Balance Sheet (13/20): Incorporates a 1.39x equity beta, Altman Z-Score of 2.03, Piotroski F-Score of 9/9, and Debt/Equity of 0.38x.

2. Business Model, Unit Margins & SEC Financial Trajectory

Waystar Holding Corp. Is a NASDAQ-listed issuer classified under the Technology sector and EDP Services industry. Operating margin is reported at 22.7% and net margin at 10.2%, per the market data. Gross margin is reported as 0%, which is not explained in the source data.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Waystar Holding Corp. (WAY) reported $1.10B in annual revenue (up from $943.5M in FY2024, +16.5% YoY) and $112.1M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($791.0M revenue, -$51.3M net income) through FY2025, WAY scaled operating cash flow to $309.7M and free cash flow to $260.2M, backed by $5.79B in total assets against $1.46B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (C • RQD 63/100): Established market leader in Technology with deep daily trading liquidity. Free cash flow yield of 4.81% and institutional whale pillar of 14/20. With Fundamental Cash Engine at 11/20 and Institutional Whale Flow at 14/20, sustained execution supports upside toward the upper end of the $17.26 – $37.71 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Priced at 48x earnings—high expectations leave less room for a lukewarm quarter. Investors must weigh 48.3x trailing P/E and 23.4x EV/EBITDA against 22.7% operating margins and a 1.39x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

Operating in EDP Services (Technology), WAY carries a macro regime beta of 1.39 and gross margin of —.

  • Key Question #1: Can WAY sustain or expand its 22.7% operating margin and 3.7% ROIC against EDP Services peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $1.10B and free cash flow of $260.2M, how will capital allocation balance growth reinvestment against $1.46B in total debt?
  • Key Question #3: How sensitive is WAY's 40.6x forward P/E multiple to Technology capital spending cycles and macro interest-rate shifts (Beta 1.39x)?

WAY Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Waystar Holding Corp. (WAY) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to WAY Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

WAY Bull vs. Bear Conversation Board — What's Your Call at $28.14?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON WAY 🐻 33% BEARISH CONVICTION
1. Pick Your Side on WAY:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
DE DeepValue_CFA RQD DEBATE OPENER • Institutional Buy-Side 🐂 BULLISH 🎯 Target: $35.00 (+25.0%)
📌 Pinned Debate

Free cash flow climbed to $260.2M in FY 2025 and the Piotroski F-Score is a perfect 9/9, indicating strong financial quality.

Don't sleep on WAY's setup in Technology. Free cash flow climbed to $260.2M in FY 2025 and the Piotroski F-Score is a perfect 9/9, indicating strong financial quality.. Beta of 1.39 means it moves fast when momentum turns, and the 5-pillar RQD gauge (63/100) backs up the fundamental quality.

EarningsSniper 🐂 BULL

@MultipleCompression Shorting a 14/20 institutional whale-flow stock at $28.00 is dangerous when funds are rotating into Technology.

MU MultipleCompression RQD DEBATE OPENER • Valuation Discipline 🐻 BEARISH 🎯 Target: $21.00 (-25.0%)
Spot @ $28.00

P/E (TTM) of 48.3 and ROIC of 3.7% leave the valuation heavily dependent on future growth while debt rose to $1.46B.

I respect the product at Waystar Holding Corp., but the stock at $28.00 is a different story. P/E (TTM) of 48.3 and ROIC of 3.7% leave the valuation heavily dependent on future growth while debt rose to $1.46B.. FCF yield is 4.81% and RQD sits at 63/100 (C) — why pay up here when you can wait for next quarter's numbers?

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