The Goldman Sachs Group Lowers GoodRx (NASDAQ:GDRX) Price Target to $2.50

GoodRx (NASDAQ:GDRX) had its price target reduced by research analysts at The Goldman Sachs Group from $4.00 to $2.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 16.01% from the company’s current price.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GoodRx in a report on Friday. TD Cowen lowered their target price on GoodRx from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of GoodRx in a research note on Tuesday, December 23rd. Morgan Stanley reduced their price target on GoodRx from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, December 18th. Finally, Bank of America restated a “reduce” rating on shares of GoodRx in a report on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.33.

GoodRx Stock Up 15.2%

Shares of NASDAQ GDRX traded up $0.29 on Monday, hitting $2.16. The company had a trading volume of 5,423,413 shares, compared to its average volume of 3,278,635. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.78. GoodRx has a 12-month low of $1.77 and a 12-month high of $5.81. The firm has a market capitalization of $731.47 million, a P/E ratio of 23.84, a PEG ratio of 0.71 and a beta of 1.52. The business has a 50 day moving average of $2.51 and a two-hundred day moving average of $3.26.

GoodRx (NASDAQ:GDRX) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. GoodRx had a return on equity of 9.31% and a net margin of 3.82%.The firm had revenue of $194.79 million for the quarter, compared to analyst estimates of $193.27 million. During the same period in the previous year, the company posted $0.09 EPS. GoodRx’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities research analysts forecast that GoodRx will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GDRX. Alpine Global Management LLC bought a new stake in shares of GoodRx during the 4th quarter valued at about $177,000. Virtu Financial LLC boosted its stake in GoodRx by 903.3% in the fourth quarter. Virtu Financial LLC now owns 133,886 shares of the company’s stock valued at $363,000 after acquiring an additional 120,542 shares during the period. Invesco Ltd. grew its holdings in shares of GoodRx by 48.8% during the fourth quarter. Invesco Ltd. now owns 186,534 shares of the company’s stock valued at $506,000 after purchasing an additional 61,193 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of GoodRx during the 4th quarter worth approximately $51,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of GoodRx in the 4th quarter worth approximately $44,000. 63.77% of the stock is currently owned by 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.