The Goldman Sachs Group Has Lowered Expectations for GoodRx (NASDAQ:GDRX) Stock Price

GoodRx (NASDAQ:GDRX) had its target price decreased by equities researchers at The Goldman Sachs Group from $4.00 to $2.50 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 20.77% from the stock’s previous close.

Several other research firms also recently commented on GDRX. Weiss Ratings reissued a “sell (d)” rating on shares of GoodRx in a report on Tuesday, December 23rd. Jefferies Financial Group cut GoodRx to a “hold” rating in a report on Thursday, January 22nd. Morgan Stanley lowered their target price on GoodRx from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, December 18th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GoodRx in a report on Friday, February 27th. Finally, TD Cowen decreased their price target on shares of GoodRx from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, GoodRx presently has an average rating of “Hold” and a consensus price target of $4.25.

GoodRx Trading Down 4.6%

Shares of GDRX opened at $2.07 on Monday. The firm has a market cap of $702.62 million, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 0.82 and a beta of 1.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.61 and a quick ratio of 2.61. GoodRx has a 1 year low of $1.77 and a 1 year high of $5.81. The company has a 50 day simple moving average of $2.48 and a two-hundred day simple moving average of $3.24.

GoodRx (NASDAQ:GDRX) last released its earnings results on Wednesday, February 25th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm 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%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, equities analysts expect that GoodRx will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of GoodRx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management grew its stake in shares of GoodRx by 517.1% during the third quarter. LSV Asset Management now owns 2,354,581 shares of the company’s stock valued at $9,960,000 after buying an additional 1,973,017 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of GoodRx during the fourth quarter worth $4,812,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of GoodRx by 10,242.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,502,666 shares of the company’s stock worth $4,072,000 after purchasing an additional 1,488,137 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in shares of GoodRx during the third quarter valued at $3,687,000. Finally, AQR Capital Management LLC grew its holdings in shares of GoodRx by 188.0% in the fourth quarter. AQR Capital Management LLC now owns 1,158,546 shares of the company’s stock worth $3,140,000 after purchasing an additional 756,209 shares during the last quarter. 63.77% of the stock is owned by hedge funds and other institutional investors.

About GoodRx

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.