GoodRx (NASDAQ:GDRX) Trading Up 9.4% – Here’s Why
by Mitch Edgeman · The Markets DailyGoodRx Holdings, Inc. (NASDAQ:GDRX – Get Free Report) was up 9.4% during trading on Monday . The company traded as high as $1.97 and last traded at $2.0450. Approximately 816,222 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 3,153,104 shares. The stock had previously closed at $1.87.
Wall Street Analyst Weigh In
Several brokerages have issued reports on GDRX. Bank of America reaffirmed a “reduce” rating on shares of GoodRx in a report on Monday, January 5th. Morgan Stanley cut their price objective on GoodRx from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, December 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GoodRx in a research note on Friday, February 27th. TD Cowen cut their price target on GoodRx from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Mizuho reduced their price objective on GoodRx from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, GoodRx presently has a consensus rating of “Hold” and a consensus price target of $4.25.
Get Our Latest Analysis on GDRX
GoodRx Trading Up 1.4%
The company has a market cap of $712.80 million, a PE ratio of 23.34, a price-to-earnings-growth ratio of 0.82 and a beta of 1.52. The business has a 50 day simple moving average of $2.48 and a two-hundred day simple moving average of $3.24. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.78.
GoodRx (NASDAQ:GDRX – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. GoodRx had a return on equity of 9.31% and a net margin of 3.82%.The business had revenue of $194.79 million during the quarter, compared to the consensus estimate of $193.27 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts forecast that GoodRx Holdings, Inc. will post 0.13 EPS for the current fiscal year.
Institutional Investors Weigh In On GoodRx
Institutional investors have recently bought and sold shares of the stock. LSV Asset Management increased its holdings in shares of GoodRx by 517.1% during the 3rd quarter. LSV Asset Management now owns 2,354,581 shares of the company’s stock worth $9,960,000 after buying an additional 1,973,017 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in GoodRx during the fourth quarter valued at about $4,812,000. Northwestern Mutual Wealth Management Co. increased its stake in GoodRx by 10,242.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,502,666 shares of the company’s stock worth $4,072,000 after acquiring an additional 1,488,137 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of GoodRx in the 3rd quarter worth about $3,687,000. Finally, AQR Capital Management LLC raised its holdings in shares of GoodRx by 188.0% in the 4th quarter. AQR Capital Management LLC now owns 1,158,546 shares of the company’s stock worth $3,140,000 after purchasing an additional 756,209 shares during the period. 63.77% of the stock is currently 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.