GoodRx (NASDAQ:GDRX) Price Target Cut to $3.50 by Analysts at Citigroup

GoodRx (NASDAQ:GDRX) had its target price lowered by Citigroup from $4.50 to $3.50 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on GDRX. Barclays initiated coverage on GoodRx in a report on Monday, December 8th. They set an “underweight” rating and a $3.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GoodRx in a report on Friday, February 27th. The Goldman Sachs Group dropped their price target on shares of GoodRx from $4.00 to $2.50 and set a “neutral” rating on the stock in a research report on Monday. Leerink Partners reaffirmed an “outperform” rating and set a $3.00 price objective on shares of GoodRx in a report on Thursday, February 26th. Finally, Jefferies Financial Group lowered shares of GoodRx to a “hold” rating in a research report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.25.

GoodRx Price Performance

NASDAQ GDRX opened at $2.07 on Tuesday. The company has a 50 day moving average price of $2.48 and a two-hundred day moving average price of $3.24. GoodRx has a 12-month low of $1.77 and a 12-month high of $5.81. The stock has a market capitalization of $702.62 million, a PE ratio of 23.00, a price-to-earnings-growth ratio of 0.82 and a beta of 1.52. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.78.

GoodRx (NASDAQ:GDRX) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $194.79 million for the quarter, compared to the consensus estimate of $193.27 million. GoodRx had a net margin of 3.82% and a return on equity of 9.31%. GoodRx’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, equities analysts predict that GoodRx will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoodRx

A number of institutional investors have recently added to or reduced their stakes in GDRX. Lazard Asset Management LLC increased its stake in GoodRx by 43.6% during the second quarter. Lazard Asset Management LLC now owns 17,142 shares of the company’s stock valued at $85,000 after acquiring an additional 5,201 shares during the period. Brevan Howard Capital Management LP increased its position in shares of GoodRx by 7.7% during the third quarter. Brevan Howard Capital Management LP now owns 95,483 shares of the company’s stock valued at $404,000 after purchasing an additional 6,842 shares during the period. Hirtle Callaghan & Co LLC raised its stake in shares of GoodRx by 60.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 18,261 shares of the company’s stock valued at $49,000 after purchasing an additional 6,869 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in GoodRx by 202.3% in the second quarter. Tower Research Capital LLC TRC now owns 11,327 shares of the company’s stock worth $56,000 after purchasing an additional 7,580 shares during the period. Finally, Quarry LP acquired a new stake in GoodRx during the third quarter worth $33,000. 63.77% of the stock is owned by institutional investors and hedge funds.

GoodRx Company Profile

GoodRx Holdings, Inc (NASDAQ: GDRX) operates a digital healthcare platform designed to help consumers compare prescription drug prices at retail pharmacies across the United States. Through its website and mobile applications, GoodRx aggregates pricing and discount information from a wide network of pharmacies, enabling users to access coupons and savings programs on both generic and brand-name medications. The platform also features price transparency tools that inform patients about cost variations and available discounts to alleviate the financial burden of prescription medications.

In addition to its core drug pricing service, GoodRx offers telehealth services under the GoodRx Care brand, providing virtual consultations for a range of non-emergency conditions and prescription needs.