GoodRx (NASDAQ:GDRX) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup raised GoodRx’s price target from $4.00 to $5.00 and maintained a “buy” rating, implying 31.41% upside from the previous close.
• Analyst sentiment remains mixed: GoodRx has an average “Hold” rating and a consensus price target of $4.16, while Wells Fargo and TD Cowen also raised their targets to $5.00.
• GoodRx reported quarterly EPS of $0.08, in line with estimates, and revenue of $200.41 million, above expectations but down 1.3% year over year. The stock recently traded at $3.81, while institutional investors own 63.77% of shares.

GoodRx (NASDAQ:GDRX - Get Free Report) had its price target increased by analysts at Citigroup from $4.00 to $5.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 31.41% from the company's previous close.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group reiterated a "neutral" rating and set a $4.00 price target on shares of GoodRx in a report on Friday. Wells Fargo & Company upped their target price on GoodRx from $3.50 to $5.00 and gave the company an "overweight" rating in a research report on Friday. TD Cowen lifted their target price on GoodRx from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Tuesday. Leerink Partners set a $5.00 price target on GoodRx in a report on Thursday. Finally, Weiss Ratings upgraded shares of GoodRx from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, GoodRx currently has an average rating of "Hold" and an average price target of $4.16.

GoodRx Price Performance

GDRX stock traded up $0.14 during midday trading on Tuesday, reaching $3.81. 1,750,660 shares of the stock were exchanged, compared to its average volume of 2,112,026. GoodRx has a 52 week low of $1.77 and a 52 week high of $5.81. The company has a fifty day moving average price of $2.96 and a 200 day moving average price of $2.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $1.30 billion, a PE ratio of 95.15, a P/E/G ratio of 1.70 and a beta of 1.60.

GoodRx (NASDAQ:GDRX - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. GoodRx had a return on equity of 7.22% and a net margin of 2.07%.The firm had revenue of $200.41 million during the quarter, compared to the consensus estimate of $193.23 million. During the same period last year, the company earned $0.09 earnings per share. The business's quarterly revenue was down 1.3% on a year-over-year basis. As a group, analysts expect that GoodRx will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Prescott Group Capital Management L.L.C. bought a new stake in shares of GoodRx during the fourth quarter worth about $4,812,000. Technology Crossover Management X Ltd. acquired a new position in GoodRx during the 2nd quarter valued at about $4,762,000. Northwestern Mutual Wealth Management Co. boosted its stake in GoodRx by 10,242.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,502,666 shares of the company's stock valued at $4,072,000 after purchasing an additional 1,488,137 shares during the last quarter. AQR Capital Management LLC increased its holdings in GoodRx by 188.0% during the 4th quarter. AQR Capital Management LLC now owns 1,158,546 shares of the company's stock worth $3,140,000 after purchasing an additional 756,209 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in GoodRx by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,207,340 shares of the company's stock worth $38,947,000 after purchasing an additional 624,182 shares in the last quarter. 63.77% of the stock is owned by institutional investors.

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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