GoodRx (NASDAQ:GDRX) Announces Earnings Results, Hits Expectations

GoodRx (NASDAQ:GDRX) posted its quarterly earnings data on Wednesday. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08, FiscalAI reports. The business had revenue of $200.41 million during the quarter, compared to the consensus estimate of $193.23 million. GoodRx had a return on equity of 7.90% and a net margin of 2.61%.GoodRx’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share.

GoodRx Stock Down 2.1%

Shares of GoodRx stock traded down $0.07 during trading on Wednesday, reaching $3.27. 2,162,211 shares of the company traded hands, compared to its average volume of 1,057,106. The firm has a market capitalization of $1.12 billion, a PE ratio of 54.51, a P/E/G ratio of 1.55 and a beta of 1.60. GoodRx has a 1-year low of $1.77 and a 1-year high of $5.81. The company has a 50 day moving average price of $2.92 and a 200-day moving average price of $2.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.47.

Institutional Investors Weigh In On GoodRx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in shares of GoodRx by 188.0% during the fourth quarter. AQR Capital Management LLC now owns 1,158,546 shares of the company’s stock valued at $3,140,000 after purchasing an additional 756,209 shares during the period. Vanguard Group Inc. increased its position in GoodRx by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 9,207,340 shares of the company’s stock valued at $38,947,000 after buying an additional 624,182 shares in the last quarter. Moore Capital Management LP bought a new stake in GoodRx in the 3rd quarter valued at about $2,217,000. California State Teachers Retirement System raised its stake in GoodRx by 664.5% during the 4th quarter. California State Teachers Retirement System now owns 575,665 shares of the company’s stock worth $1,560,000 after buying an additional 500,365 shares during the period. Finally, Jane Street Group LLC raised its stake in GoodRx by 481.5% during the 2nd quarter. Jane Street Group LLC now owns 487,887 shares of the company’s stock worth $2,430,000 after buying an additional 403,981 shares during the period. 63.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $3.50 price target on shares of GoodRx in a research report on Friday, May 8th. Weiss Ratings downgraded GoodRx from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. Citigroup reaffirmed a “buy” rating on shares of GoodRx in a research note on Thursday, July 23rd. Finally, TD Cowen upped their target price on GoodRx from $3.00 to $4.00 and gave the company a “buy” rating in a report on Monday, May 11th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, GoodRx presently has a consensus rating of “Hold” and an average price target of $3.81.

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.