GoodRx (NASDAQ:GDRX) Stock Price Up 15.7% - Here's Why

Key Points

• GoodRx shares rose 15.7% to approximately $3.79 during mid-day trading, reaching as high as $3.82 and bringing the stock near the analyst consensus target of $3.81.
• The company reported quarterly EPS of $0.08, in line with estimates, while revenue of $200.4 million exceeded expectations of $193.2 million; however, revenue declined 1.3% year over year.
• Analyst sentiment remains mixed, with five Buy, seven Hold, and three Sell ratings, resulting in a consensus Hold rating. Institutional investors own 63.77% of GoodRx’s outstanding shares.

GoodRx Holdings, Inc. (NASDAQ:GDRX - Get Free Report)'s stock price rose 15.7% during mid-day trading on Thursday . The stock traded as high as $3.82 and last traded at $3.7850. Approximately 2,064,694 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 2,096,267 shares. The stock had previously closed at $3.27.

Wall Street Analysts Forecast Growth

GDRX has been the topic of several research analyst reports. TD Cowen boosted their target price on shares of GoodRx from $3.00 to $4.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Weiss Ratings downgraded shares of GoodRx from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, July 23rd. Citigroup reaffirmed a "buy" rating on shares of GoodRx in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $3.50 price target on shares of GoodRx in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.81.

GoodRx Trading Up 14.5%

The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 1.55 and a beta of 1.60. The business's 50-day moving average price is $2.92 and its 200 day moving average price is $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.

GoodRx (NASDAQ:GDRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, meeting analysts' consensus estimates of $0.08. GoodRx had a net margin of 2.61% and a return on equity of 7.90%. The business had revenue of $200.41 million during the quarter, compared to analyst estimates of $193.23 million. During the same period last year, the business earned $0.09 EPS. The business's revenue was down 1.3% on a year-over-year basis. On average, equities analysts forecast that GoodRx Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Essential Partners LLC boosted its holdings in GoodRx by 375.4% in the first quarter. Essential Partners LLC now owns 14,304 shares of the company's stock valued at $28,000 after purchasing an additional 11,295 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of GoodRx in the 4th quarter valued at approximately $29,000. SG Americas Securities LLC purchased a new position in shares of GoodRx during the 1st quarter valued at approximately $29,000. Krilogy Financial LLC purchased a new position in shares of GoodRx during the 1st quarter valued at approximately $33,000. Finally, Quarry LP acquired a new stake in shares of GoodRx during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 63.77% of the company's stock.

About GoodRx

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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