GoodRx (NASDAQ:GDRX) Trading Up 15.7% – Here’s What Happened

GoodRx Holdings, Inc. (NASDAQ:GDRX)’s stock price rose 15.7% during trading on Thursday . The stock traded as high as $3.82 and last traded at $3.7850. Approximately 2,064,694 shares were traded during trading, a decline of 2% from the average daily volume of 2,096,267 shares. The stock had previously closed at $3.27.

Analysts Set New Price Targets

A number of research firms recently commented on GDRX. Wells Fargo & Company increased their price target on GoodRx from $3.50 to $5.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $4.00 price objective on shares of GoodRx in a report on Friday. Citigroup reiterated a “buy” rating on shares of GoodRx in a research note on Thursday, July 23rd. TD Cowen raised their price target on shares of GoodRx from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Leerink Partners set a $5.00 price target on shares of GoodRx in a report on Thursday. Four 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.15.

GoodRx Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.38 and a quick ratio of 1.47. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 92.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.60. The stock has a 50 day moving average price of $2.95 and a 200-day moving average price of $2.55.

GoodRx (NASDAQ:GDRX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $200.41 million during the quarter, compared to the consensus estimate of $194.56 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 period in the prior year, the company earned $0.09 EPS. On average, analysts forecast that GoodRx Holdings, Inc. will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On GoodRx

Several hedge funds and other institutional investors have recently modified their holdings of the business. Essential Partners LLC lifted its position in shares of GoodRx by 375.4% in the first quarter. Essential Partners LLC now owns 14,304 shares of the company’s stock worth $28,000 after buying an additional 11,295 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of GoodRx during the fourth quarter valued at about $29,000. SG Americas Securities LLC acquired a new stake in shares of GoodRx during the 1st quarter worth approximately $29,000. Krilogy Financial LLC acquired a new stake in GoodRx during the first quarter worth $33,000. Finally, Quarry LP bought a new stake in GoodRx in the third quarter valued at about $33,000. 63.77% of the stock is owned by hedge funds and other institutional investors.

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.