GoodRx (NASDAQ:GDRX) Trading Up 11.9% After Strong Earnings

GoodRx Holdings, Inc. (NASDAQ:GDRX)’s stock price traded up 11.9% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $4.24 and last traded at $4.24. 482,949 shares were traded during trading, a decline of 66% from the average session volume of 1,420,273 shares. The stock had previously closed at $3.79.

The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $202.97 million for the quarter, compared to analysts’ expectations of $202.25 million. GoodRx had a negative net margin of 2.05% and a positive return on equity of 5.35%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share.

Wall Street Analysts Forecast Growth

GDRX has been the topic of a number of analyst reports. Citigroup cut their target price on GoodRx from $7.00 to $6.25 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their target price on GoodRx from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. Finally, Truist Financial lowered their target price on shares of GoodRx from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoodRx currently has an average rating of “Moderate Buy” and a consensus price target of $7.84.

Institutional Trading of GoodRx

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI raised its holdings in shares of GoodRx by 34.9% in the 4th quarter. National Bank of Canada FI now owns 8,308 shares of the company’s stock valued at $39,000 after purchasing an additional 2,151 shares in the last quarter. RPO LLC purchased a new stake in GoodRx during the fourth quarter worth $52,000. Versor Investments LP purchased a new stake in GoodRx during the fourth quarter worth $54,000. Verus Capital Partners LLC bought a new stake in GoodRx during the 4th quarter valued at $55,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of GoodRx in the 4th quarter valued at $56,000. 63.77% of the stock is owned by hedge funds and other institutional investors.

GoodRx Stock Up 11.9 %

The business has a 50 day moving average of $4.50 and a two-hundred day moving average of $4.76. The stock has a market capitalization of $1.63 billion, a PE ratio of -141.33, a PEG ratio of 2.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.48 and a current ratio of 5.48.

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.