GoodRx (NASDAQ:GDRX) Trading Up 5.2% - Here's What Happened

Key Points

• GoodRx's share price increased by 5.2% to $3.73, although trading volume fell by 77% from its average.
• Wells Fargo and Goldman Sachs both reduced their target price for GoodRx, with average ratings showing a consensus of "Moderate Buy" and a target price of $6.18.
• GoodRx reported $203.07 million in revenue for the last quarter, missing analyst expectations, and earnings per share (EPS) of $0.09, below the forecast of $0.10.

GoodRx Holdings, Inc. (NASDAQ:GDRX - Get Free Report)'s share price was up 5.2% during mid-day trading on Friday . The stock traded as high as $3.70 and last traded at $3.73. Approximately 347,116 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,486,686 shares. The stock had previously closed at $3.54.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of GoodRx from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group decreased their price objective on shares of GoodRx from $6.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $6.00 target price on shares of GoodRx in a research report on Monday. UBS Group decreased their target price on GoodRx from $6.00 to $5.25 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Raymond James Financial downgraded GoodRx from a "strong-buy" rating to an "outperform" rating in a report on Friday, August 8th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, GoodRx presently has an average rating of "Moderate Buy" and a consensus price target of $6.18.

GoodRx Stock Up 5.8%

The business has a 50-day simple moving average of $4.57 and a two-hundred day simple moving average of $4.52. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.21 and a current ratio of 4.21. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 1.46 and a beta of 1.24.

GoodRx (NASDAQ:GDRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). GoodRx had a return on equity of 8.86% and a net margin of 4.33%. The company had revenue of $203.07 million for the quarter, compared to analyst estimates of $205.72 million. During the same period in the prior year, the business earned $0.08 earnings per share. GoodRx's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that GoodRx Holdings, Inc. will post 0.13 EPS for the current year.

Insider Activity at GoodRx

In related news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.80, for a total value of $51,249.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GoodRx

Hedge funds and other institutional investors have recently bought and sold shares of the company. 8 Knots Management LLC acquired a new position in GoodRx during the first quarter worth approximately $8,106,000. EVR Research LP increased its holdings in shares of GoodRx by 243.3% during the 1st quarter. EVR Research LP now owns 1,300,000 shares of the company's stock worth $5,733,000 after buying an additional 921,337 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of GoodRx by 303.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,061,461 shares of the company's stock worth $4,936,000 after buying an additional 798,261 shares during the last quarter. Pathway Capital Management LP acquired a new stake in shares of GoodRx during the 2nd quarter worth $2,906,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of GoodRx during the 4th quarter worth $2,500,000. 63.77% of the stock is owned by institutional investors and hedge funds.

GoodRx Company Profile

GoodRx Holdings, Inc, together with its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. The company operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and access to negotiated prices.

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