GoodRx (NASDAQ:GDRX) Posts Earnings Results, Hits Estimates

Key Points

• GoodRx met earnings expectations, reporting quarterly EPS of $0.08 while revenue of $200.41 million exceeded the $193.23 million consensus estimate. However, revenue declined 1.3% year over year and EPS fell from $0.09 in the prior-year period.
• Shares fell 2.1% to $3.27 during Wednesday trading, despite the company’s improved revenue performance. GoodRx has a market capitalization of approximately $1.12 billion and trades below its 52-week high of $5.81.
• Analyst sentiment remains mixed, with five Buy, seven Hold, and three Sell ratings producing a consensus “Hold” rating and an average price target of $3.81. Institutional investors own 63.77% of the company.

GoodRx (NASDAQ:GDRX - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08, FiscalAI reports. The business had revenue of $200.41 million for 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%.The business's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share.

GoodRx Trading Down 2.1%

Shares of GDRX stock traded down $0.07 during mid-day trading on Wednesday, hitting $3.27. 2,162,211 shares of the company's stock were exchanged, compared to its average volume of 1,057,106. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 1.55 and a beta of 1.60. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.78. GoodRx has a fifty-two week low of $1.77 and a fifty-two week high of $5.81. The stock has a 50-day simple moving average of $2.92 and a two-hundred day simple moving average of $2.53.

Hedge Funds Weigh In On GoodRx

Several large investors have recently added to or reduced their stakes in GDRX. Virtu Financial LLC increased its stake in shares of GoodRx by 903.3% during the 4th quarter. Virtu Financial LLC now owns 133,886 shares of the company's stock valued at $363,000 after acquiring an additional 120,542 shares during the last quarter. Invesco Ltd. raised its stake in GoodRx by 48.8% during the fourth quarter. Invesco Ltd. now owns 186,534 shares of the company's stock worth $506,000 after purchasing an additional 61,193 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in GoodRx during the fourth quarter worth approximately $51,000. EP Wealth Advisors LLC acquired a new position in shares of GoodRx in the 4th quarter valued at $44,000. Finally, Mackenzie Financial Corp acquired a new position in shares of GoodRx in the 4th quarter valued at $1,009,000. 63.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GDRX. Citigroup reissued a "buy" rating on shares of GoodRx in a research note on Thursday, July 23rd. Weiss Ratings cut shares of GoodRx from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 23rd. The Goldman Sachs Group reiterated a "neutral" rating and set a $3.50 price target on shares of GoodRx in a report on Friday, May 8th. Finally, TD Cowen boosted their price objective on shares of GoodRx from $3.00 to $4.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, GoodRx currently 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.

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