Wells Fargo & Company Upgrades GoodRx (NASDAQ:GDRX) to “Overweight”

Wells Fargo & Company upgraded shares of GoodRx (NASDAQ:GDRX) from an equal weight rating to an overweight rating in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm currently has $10.00 price target on the stock, up from their previous price target of $7.50.

Other equities analysts have also issued research reports about the company. Truist Financial upped their price target on GoodRx from $7.50 to $8.00 and gave the company a hold rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised GoodRx from a neutral rating to an overweight rating and increased their target price for the company from $7.00 to $10.00 in a research note on Friday, March 1st. Leerink Partnrs reissued an outperform rating on shares of GoodRx in a research note on Monday, February 26th. Royal Bank of Canada increased their target price on GoodRx from $7.00 to $8.00 and gave the company a sector perform rating in a research note on Friday, March 1st. Finally, UBS Group increased their target price on GoodRx from $5.00 to $8.00 and gave the company a neutral rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, GoodRx presently has a consensus rating of Hold and an average price target of $8.76.

GoodRx Price Performance

Shares of GDRX stock opened at $7.10 on Monday. The stock’s fifty day moving average is $6.75 and its 200-day moving average is $6.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 7.12 and a current ratio of 7.12. The stock has a market capitalization of $2.80 billion, a PE ratio of -354.82, a PEG ratio of 3.87 and a beta of 1.44. GoodRx has a 52 week low of $4.14 and a 52 week high of $9.37.

GoodRx (NASDAQ:GDRX) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. GoodRx had a positive return on equity of 2.45% and a negative net margin of 1.18%. The business had revenue of $196.64 million for the quarter, compared to analyst estimates of $195.59 million. Equities research analysts expect that GoodRx will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Rip Road Capital Partners LP bought a new position in GoodRx in the second quarter valued at approximately $5,333,000. Dark Forest Capital Management LP bought a new position in shares of GoodRx during the 3rd quarter worth approximately $2,454,000. Gotham Asset Management LLC boosted its stake in shares of GoodRx by 121.6% during the 3rd quarter. Gotham Asset Management LLC now owns 72,090 shares of the company’s stock worth $406,000 after acquiring an additional 39,552 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in shares of GoodRx during the 3rd quarter worth approximately $8,866,000. Finally, Stifel Financial Corp boosted its stake in shares of GoodRx by 0.8% during the 3rd quarter. Stifel Financial Corp now owns 346,797 shares of the company’s stock worth $1,952,000 after acquiring an additional 2,920 shares during the period. 63.77% of the stock is currently owned by institutional investors.

About GoodRx

GoodRx Holdings, Inc, together with its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. The company operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and access to negotiated prices.