GoodRx (NASDAQ:GDRX) Stock Price Down 5.1% – Should You Sell?

GoodRx Holdings, Inc. (NASDAQ:GDRX)’s share price dropped 5.1% on Wednesday . The stock traded as low as $3.60 and last traded at $3.6050. 459,413 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,102,723 shares. The stock had previously closed at $3.80.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GDRX shares. Wells Fargo & Company increased their target price on shares of GoodRx from $3.50 to $5.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of GoodRx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Citigroup increased their price target on GoodRx from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen raised their price objective on GoodRx from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of GoodRx in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GoodRx currently has an average rating of “Hold” and a consensus price target of $4.16.

GoodRx Stock Down 4.5%

The firm has a 50 day simple moving average of $2.97 and a two-hundred day simple moving average of $2.56. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $1.24 billion, a P/E ratio of 90.77, a PEG ratio of 1.69 and a beta of 1.60.

GoodRx (NASDAQ:GDRX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. GoodRx had a return on equity of 7.22% and a net margin of 2.07%.The company had revenue of $200.41 million for the quarter, compared to analyst estimates of $193.23 million. During the same quarter last year, the company posted $0.09 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that GoodRx Holdings, Inc. will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Technology Crossover Management X Ltd. bought a new stake in shares of GoodRx during the 2nd quarter valued at approximately $4,762,000. Bank of New York Mellon Corp bought a new stake in shares of GoodRx during the second quarter worth $540,000. Essential Partners LLC increased its holdings in shares of GoodRx by 375.4% during 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 in the last quarter. Amundi bought a new position in shares of GoodRx in the 1st quarter valued at $37,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of GoodRx by 1.5% during the 1st quarter. Renaissance Technologies LLC now owns 3,259,738 shares of the company’s stock valued at $6,389,000 after acquiring an additional 48,800 shares in the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

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.