Wells Fargo & Company Issues Pessimistic Forecast for GoodRx (NASDAQ:GDRX) Stock Price

GoodRx (NASDAQ:GDRX) had its target price dropped by investment analysts at Wells Fargo & Company from $7.00 to $3.50 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 52.84% from the stock’s previous close.

Several other brokerages also recently issued reports on GDRX. Leerink Partners reissued an “outperform” rating and issued a $3.00 price objective on shares of GoodRx in a research note on Thursday, February 26th. Barclays started coverage on GoodRx in a report on Monday, December 8th. They issued an “underweight” rating and a $3.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of GoodRx in a report on Friday, February 27th. Citigroup lowered their price objective on shares of GoodRx from $4.50 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday. Finally, UBS Group dropped their price objective on shares of GoodRx from $4.25 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.98.

GoodRx Trading Up 5.0%

GoodRx stock opened at $2.29 on Wednesday. GoodRx has a 52 week low of $1.77 and a 52 week high of $5.81. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.61 and a current ratio of 2.61. The firm has a market capitalization of $777.30 million, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.51 and a beta of 1.52. The company has a 50 day moving average price of $2.46 and a 200 day moving average price of $3.22.

GoodRx (NASDAQ:GDRX) last announced its earnings results on Wednesday, February 25th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The company 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 revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. Research analysts forecast that GoodRx will post 0.13 EPS for the current year.

Institutional Trading of GoodRx

A number of institutional investors have recently added to or reduced their stakes in GDRX. Lazard Asset Management LLC increased its stake in shares of GoodRx by 43.6% during the 2nd quarter. Lazard Asset Management LLC now owns 17,142 shares of the company’s stock worth $85,000 after purchasing an additional 5,201 shares during the last quarter. Brevan Howard Capital Management LP boosted its holdings in GoodRx by 7.7% in the third quarter. Brevan Howard Capital Management LP now owns 95,483 shares of the company’s stock worth $404,000 after purchasing an additional 6,842 shares in the last quarter. Hirtle Callaghan & Co LLC increased its position in GoodRx by 60.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 18,261 shares of the company’s stock worth $49,000 after buying an additional 6,869 shares during the last quarter. Tower Research Capital LLC TRC increased its position in GoodRx by 202.3% during the second quarter. Tower Research Capital LLC TRC now owns 11,327 shares of the company’s stock worth $56,000 after buying an additional 7,580 shares during the last quarter. Finally, Quarry LP bought a new position in GoodRx during the third quarter valued at about $33,000. 63.77% of the stock is currently owned by institutional investors and hedge funds.

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.