Short Interest in GoodRx Holdings, Inc. (NASDAQ:GDRX) Declines By 33.7%

GoodRx Holdings, Inc. (NASDAQ:GDRX) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 7,218,628 shares, a drop of 33.7% from the May 14th total of 10,887,679 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 1,769,530 shares, the days-to-cover ratio is currently 4.1 days.

GoodRx Trading Down 0.9%

Shares of GDRX traded down $0.03 during mid-day trading on Wednesday, reaching $2.71. 478,196 shares of the company were exchanged, compared to its average volume of 2,363,217. 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 1.47 and a current ratio of 1.47. The stock has a market capitalization of $926.65 million, a PE ratio of 44.92, a PEG ratio of 1.26 and a beta of 1.61. The business has a 50 day simple moving average of $2.53 and a two-hundred day simple moving average of $2.48.

GoodRx (NASDAQ:GDRX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. GoodRx had a return on equity of 7.90% and a net margin of 2.61%.The company had revenue of $194.01 million during the quarter, compared to the consensus estimate of $185.40 million. During the same period last year, the company earned $0.09 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year. On average, analysts predict that GoodRx will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GDRX shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $3.50 target price on shares of GoodRx in a research report on Friday, May 8th. TD Cowen increased their target price on GoodRx from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings downgraded GoodRx from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Leerink Partners restated an “outperform” rating and set a $3.00 price objective on shares of GoodRx in a research report on Thursday, February 26th. Finally, Wells Fargo & Company lowered their price objective on GoodRx from $7.00 to $3.50 and set an “overweight” rating for the company in a research report on Wednesday, March 4th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.81.

Institutional Investors Weigh In On GoodRx

Several large investors have recently added to or reduced their stakes in GDRX. Essential Partners LLC grew its stake in GoodRx by 375.4% during the first quarter. Essential Partners LLC now owns 14,304 shares of the company’s stock worth $28,000 after purchasing an additional 11,295 shares during the period. Meridian Wealth Management LLC acquired a new stake in GoodRx during the fourth quarter worth approximately $29,000. SG Americas Securities LLC acquired a new stake in GoodRx during the first quarter worth approximately $29,000. Krilogy Financial LLC acquired a new stake in GoodRx in the first quarter valued at approximately $33,000. Finally, Quarry LP acquired a new stake in GoodRx in the third quarter valued at approximately $33,000. Institutional investors and hedge funds 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.