GoodRx (NASDAQ:GDRX) Shares Climb 0.6% - Here's What Happened

Key Points

• GoodRx shares rose 0.6% to $3.56 in Monday midday trading, with volume about 9% below the stock’s average daily level.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” from 13 analysts, with an average price target of $4.23. Recent target changes ranged from UBS’s $3.75 neutral target to TD Cowen’s $5.00 buy target.
• GoodRx matched quarterly earnings expectations at $0.08 per share and exceeded revenue forecasts with $200.41 million, though revenue declined 1.3% year over year. Meanwhile, insiders have sold roughly 2.76 million shares worth $9.67 million over the past 90 days.

GoodRx Holdings, Inc. (NASDAQ:GDRX - Get Free Report)'s stock price traded up 0.6% on Monday. The company traded as high as $3.60 and last traded at $3.56. 891,950 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 978,739 shares. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

Several research firms recently commented on GDRX. Weiss Ratings upgraded shares of GoodRx from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 7th. TD Cowen lifted their price target on shares of GoodRx from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. UBS Group upped their price target on GoodRx from $2.50 to $3.75 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Barclays increased their price objective on GoodRx from $3.00 to $4.00 and gave the company an "underweight" rating in a report on Thursday, August 20th. Finally, Wall Street Zen raised GoodRx from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $4.23.

GoodRx Stock Performance

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 89.02, a P/E/G ratio of 1.76 and a beta of 1.69. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average of $3.44 and a 200-day moving average of $2.81.

GoodRx (NASDAQ:GDRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The company had revenue of $200.41 million during the quarter, compared to analysts' expectations of $193.23 million. GoodRx had a return on equity of 7.22% and a net margin of 2.07%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. As a group, sell-side analysts predict that GoodRx Holdings, Inc. will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other GoodRx news, major shareholder Francisco Partners Iv, L.P. sold 1,296,177 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $3.50, for a total transaction of $4,536,619.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 2,760,995 shares of company stock valued at $9,673,207. 5.87% of the stock is currently owned by corporate insiders.

Institutional Trading of GoodRx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP purchased a new stake in GoodRx in the second quarter valued at $86,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of GoodRx during the 2nd quarter valued at about $500,000. Headlands Technologies LLC purchased a new position in shares of GoodRx during the 2nd quarter valued at about $30,000. Technology Crossover Management X Ltd. acquired a new position in shares of GoodRx in the 2nd quarter valued at about $4,762,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of GoodRx in the 2nd quarter valued at about $540,000. Institutional investors and hedge funds own 63.77% of the company's stock.

About GoodRx

GoodRx Holdings, Inc operates a digital healthcare platform that helps consumers find and access lower prices for prescription medications. Through its website and mobile applications, GoodRx allows users to compare prices at participating pharmacies, obtain prescription discount coupons and identify potential savings on commonly prescribed drugs. The company's services are generally available at pharmacies across the United States.

GoodRx also offers GoodRx Gold, a membership program that provides additional discounts on eligible prescriptions, as well as healthcare-related content and tools designed to help consumers understand medications and treatment options.

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