Citigroup Cuts GoodRx (NASDAQ:GDRX) Price Target to $3.50

GoodRx (NASDAQ:GDRX) had its price objective reduced by Citigroup from $4.50 to $3.50 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on GDRX. Bank of America reaffirmed a “reduce” rating on shares of GoodRx in a report on Monday, January 5th. TD Cowen reduced their price objective on shares of GoodRx from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Weiss Ratings restated a “sell (d)” rating on shares of GoodRx in a report on Tuesday, December 23rd. Leerink Partners reiterated an “outperform” rating and set a $3.00 price target on shares of GoodRx in a research note on Thursday, February 26th. Finally, Wall Street Zen cut shares of GoodRx from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $3.98.

GoodRx Stock Performance

NASDAQ:GDRX opened at $2.29 on Tuesday. GoodRx has a 12 month low of $1.77 and a 12 month high of $5.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.61 and a quick ratio of 2.61. The firm has a market capitalization of $777.30 million, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.51 and a beta of 1.52. The business’s fifty day moving average price is $2.46 and its 200 day moving average price is $3.22.

GoodRx (NASDAQ:GDRX) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. GoodRx had a return on equity of 9.31% and a net margin of 3.82%.The company had revenue of $194.79 million during the quarter, compared to the consensus estimate of $193.27 million. During the same period in the previous year, the business earned $0.09 EPS. GoodRx’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that GoodRx will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of GoodRx

Institutional investors and hedge funds have recently bought and sold shares of the business. Meridian Wealth Management LLC purchased a new position in GoodRx during the 4th quarter worth $29,000. Quarry LP acquired a new stake in shares of GoodRx during the third quarter worth about $33,000. MML Investors Services LLC purchased a new position in shares of GoodRx during the fourth quarter worth about $36,000. DRW Securities LLC acquired a new position in GoodRx in the 4th quarter valued at about $40,000. Finally, Boothbay Fund Management LLC purchased a new stake in GoodRx during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 63.77% of the company’s stock.

GoodRx Company Profile

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.