Wells Fargo & Company Boosts GoodRx (NASDAQ:GDRX) Price Target to $5.00

Key Points

• Wells Fargo raised GoodRx’s price target from $3.50 to $5.00 and maintained an “overweight” rating, implying approximately 33.3% upside from the reported $3.75 share price.
• Analyst sentiment remains mixed: GoodRx has a consensus “Hold” rating and an average price target of $4.15, based on five Buy, seven Hold, and three Sell ratings.
• GoodRx matched quarterly EPS estimates at $0.08 and exceeded revenue expectations with $200.41 million, although revenue declined 1.3% year over year; institutional investors own 63.77% of the stock.

GoodRx (NASDAQ:GDRX - Get Free Report) had its price objective lifted by investment analysts at Wells Fargo & Company from $3.50 to $5.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 33.33% from the company's current price.

GDRX has been the topic of a number of other reports. Citigroup reissued a "buy" rating on shares of GoodRx in a research report on Thursday, July 23rd. Weiss Ratings downgraded GoodRx from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, July 23rd. Leerink Partners set a $5.00 target price on GoodRx in a report on Thursday. TD Cowen boosted their target price on GoodRx from $3.00 to $4.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $4.00 price target on shares of GoodRx in a report on Friday. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $4.15.

GoodRx Stock Performance

Shares of GDRX stock opened at $3.75 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $1.28 billion, a PE ratio of 93.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.60. The stock has a 50-day moving average of $2.93 and a 200-day moving average of $2.54. GoodRx has a one year low of $1.77 and a one year high of $5.81.

GoodRx (NASDAQ:GDRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $200.41 million for the quarter, compared to analyst estimates of $194.56 million. GoodRx had a net margin of 2.07% and a return on equity of 7.32%. GoodRx's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. As a group, sell-side analysts expect that GoodRx will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On GoodRx

A number of hedge funds and other institutional investors have recently made changes to their positions in GDRX. Prescott Group Capital Management L.L.C. acquired a new stake in shares of GoodRx in the fourth quarter valued at approximately $4,812,000. Northwestern Mutual Wealth Management Co. grew its position in GoodRx by 10,242.5% in the fourth 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 in the last quarter. AQR Capital Management LLC grew its position in GoodRx by 188.0% in the fourth quarter. AQR Capital Management LLC now owns 1,158,546 shares of the company's stock valued at $3,140,000 after purchasing an additional 756,209 shares in the last quarter. Vanguard Group Inc. grew its position in GoodRx by 7.3% in the third quarter. Vanguard Group Inc. now owns 9,207,340 shares of the company's stock valued at $38,947,000 after purchasing an additional 624,182 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in GoodRx in the 4th quarter valued at $1,585,000. 63.77% of the stock is currently owned by institutional investors and hedge funds.

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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