GoodRx (NASDAQ:GDRX) Shares Down 6% – What’s Next?

GoodRx Holdings, Inc. (NASDAQ:GDRX) dropped 6% during trading on Wednesday . The stock traded as low as $2.29 and last traded at $2.2550. Approximately 431,567 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 3,441,525 shares. The stock had previously closed at $2.40.

Analyst Ratings Changes

GDRX has been the topic of several research reports. Wells Fargo & Company cut their price target on GoodRx from $7.00 to $3.50 and set an “overweight” rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley dropped their price objective on GoodRx from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, December 18th. Bank of America restated a “reduce” rating on shares of GoodRx in a research report on Monday, January 5th. Barclays assumed coverage on shares of GoodRx in a research note on Monday, December 8th. They issued an “underweight” rating and a $3.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of GoodRx in a research report on Tuesday, December 23rd. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.98.

GoodRx Stock Down 0.2%

The business has a fifty day moving average of $2.42 and a 200 day moving average of $3.14. The firm has a market cap of $748.44 million, a P/E ratio of 24.50, a P/E/G ratio of 1.56 and a beta of 1.52. 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 (NASDAQ:GDRX) last issued its earnings results on Wednesday, February 25th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. GoodRx had a net margin of 3.82% and a return on equity of 9.31%. The firm had revenue of $194.79 million during the quarter, compared to the consensus estimate of $193.27 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that GoodRx Holdings, Inc. will post 0.13 EPS for the current year.

Institutional Trading of GoodRx

A number of hedge funds and other institutional investors have recently modified their holdings of GDRX. Lazard Asset Management LLC raised its holdings in GoodRx by 43.6% in the 2nd quarter. Lazard Asset Management LLC now owns 17,142 shares of the company’s stock valued at $85,000 after acquiring an additional 5,201 shares in the last quarter. Brevan Howard Capital Management LP increased its position in shares of GoodRx by 7.7% in the third quarter. Brevan Howard Capital Management LP now owns 95,483 shares of the company’s stock worth $404,000 after purchasing an additional 6,842 shares during the period. Hirtle Callaghan & Co LLC increased its position in shares of GoodRx by 60.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 18,261 shares of the company’s stock worth $49,000 after purchasing an additional 6,869 shares during the period. Tower Research Capital LLC TRC raised its stake in GoodRx by 202.3% in 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 in the last quarter. Finally, Quarry LP acquired a new position in GoodRx in the third quarter valued at about $33,000. 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.