Citigroup Issues Positive Forecast for GoodRx (NASDAQ:GDRX) Stock Price

GoodRx (NASDAQ:GDRX) had its price target raised by equities researchers at Citigroup from $4.00 to $5.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 31.41% from the company’s previous close.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $4.00 price objective on shares of GoodRx in a research note on Friday. Weiss Ratings raised GoodRx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. TD Cowen lifted their target price on GoodRx from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday. Leerink Partners set a $5.00 price target on shares of GoodRx in a report on Thursday. Finally, Wells Fargo & Company increased their price target on shares of GoodRx from $3.50 to $5.00 and gave the company an “overweight” rating in a research report on Friday. Four 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.16.

GoodRx Stock Up 4.0%

GDRX traded up $0.14 during mid-day trading on Tuesday, reaching $3.81. 1,750,660 shares of the stock were exchanged, compared to its average volume of 2,112,026. GoodRx has a 1 year low of $1.77 and a 1 year high of $5.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $1.30 billion, a PE ratio of 95.15, a price-to-earnings-growth ratio of 1.70 and a beta of 1.60. The company has a 50 day moving average price of $2.96 and a two-hundred day moving average price of $2.55.

GoodRx (NASDAQ:GDRX) last announced its earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. GoodRx had a net margin of 2.07% and a return on equity of 7.22%. The company had revenue of $200.41 million during the quarter, compared to the consensus estimate of $193.23 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts anticipate that GoodRx will post 0.17 EPS for the current year.

Institutional Trading of GoodRx

Several hedge funds have recently made changes to their positions in GDRX. Lazard Asset Management LLC lifted its position in shares of GoodRx by 43.6% during the 2nd quarter. Lazard Asset Management LLC now owns 17,142 shares of the company’s stock valued at $85,000 after buying an additional 5,201 shares during the last quarter. Brevan Howard Capital Management LP raised its stake in GoodRx by 7.7% in the 3rd quarter. Brevan Howard Capital Management LP now owns 95,483 shares of the company’s stock valued at $404,000 after acquiring an additional 6,842 shares during the period. Hirtle Callaghan & Co LLC raised its stake in GoodRx by 60.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 18,261 shares of the company’s stock valued at $49,000 after acquiring an additional 6,869 shares during the period. Tower Research Capital LLC TRC lifted its holdings in GoodRx by 202.3% during the second quarter. Tower Research Capital LLC TRC now owns 11,327 shares of the company’s stock valued at $56,000 after purchasing an additional 7,580 shares during the last quarter. Finally, Quarry LP purchased a new stake in GoodRx during the third quarter valued at about $33,000. 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.