GoodRx (NASDAQ:GDRX) Price Target Cut to $3.50 by Analysts at Wells Fargo & Company

GoodRx (NASDAQ:GDRX) had its target price lowered by Wells Fargo & Company from $7.00 to $3.50 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Bank of America reissued a “reduce” rating on shares of GoodRx in a report on Monday, January 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of GoodRx in a research report on Tuesday, December 23rd. The Goldman Sachs Group decreased their target price on shares of GoodRx from $4.00 to $2.50 and set a “neutral” rating for the company in a research report on Monday. Jefferies Financial Group lowered shares of GoodRx to a “hold” rating in a research note on Thursday, January 22nd. Finally, UBS Group reduced their price objective on GoodRx from $4.25 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, GoodRx presently has a consensus rating of “Hold” and an average price target of $3.98.

GoodRx Stock Performance

Shares of GDRX stock opened at $2.18 on Wednesday. The company has a market cap of $739.96 million, a P/E ratio of 24.22, a PEG ratio of 1.43 and a beta of 1.52. The business has a 50 day moving average of $2.47 and a two-hundred day moving average of $3.23. GoodRx has a 52 week low of $1.77 and a 52 week high of $5.81. 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 announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. GoodRx had a return on equity of 9.31% and a net margin of 3.82%.The business had revenue of $194.79 million for the quarter, compared to the consensus estimate of $193.27 million. During the same quarter last year, the business posted $0.09 EPS. The business’s revenue was down 1.9% on a year-over-year basis. As a group, analysts anticipate that GoodRx will post 0.13 EPS for the current year.

Institutional Investors Weigh In On GoodRx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its position in GoodRx by 43.6% in the second 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 period. Brevan Howard Capital Management LP raised its stake in shares of GoodRx by 7.7% in the 3rd quarter. Brevan Howard Capital Management LP now owns 95,483 shares of the company’s stock worth $404,000 after buying an additional 6,842 shares in the last quarter. Hirtle Callaghan & Co LLC lifted its holdings 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 buying an additional 6,869 shares during the period. Tower Research Capital LLC TRC boosted its stake in GoodRx by 202.3% during the second quarter. Tower Research Capital LLC TRC now owns 11,327 shares of the company’s stock valued at $56,000 after buying an additional 7,580 shares in the last quarter. Finally, Quarry LP acquired a new position in GoodRx during the third quarter worth about $33,000. Institutional investors own 63.77% of the company’s stock.

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.