Zacks Investment Research Upgrades GoodRx (NASDAQ:GDRX) to “Buy”


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GoodRx (NASDAQ:GDRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $45.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 18.17% from the stock’s previous close.

According to Zacks, “GoodRx Holdings Inc. provides consumer-focused digital healthcare platform. GoodRx Holdings Inc. is based in Santa Monica, California. “

GDRX has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of GoodRx from $31.00 to $37.00 and gave the company a “hold” rating in a report on Friday, March 12th. Credit Suisse Group raised their price target on GoodRx from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, March 22nd. Guggenheim assumed coverage on GoodRx in a research report on Monday, January 25th. They issued a “buy” rating and a $52.00 price objective on the stock. SVB Leerink reiterated a “buy” rating and set a $61.00 price objective on shares of GoodRx in a research report on Thursday, March 4th. Finally, Barclays upped their target price on shares of GoodRx from $35.00 to $45.00 in a report on Friday, March 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $51.87.

GoodRx stock opened at $38.08 on Monday. The stock’s 50 day moving average price is $38.77 and its 200 day moving average price is $43.90. GoodRx has a 1-year low of $33.39 and a 1-year high of $64.22. The company has a debt-to-equity ratio of 0.91, a quick ratio of 19.63 and a current ratio of 19.63.

GoodRx (NASDAQ:GDRX) last released its earnings results on Thursday, March 11th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $153.50 million during the quarter, compared to analyst estimates of $148.01 million. GoodRx’s quarterly revenue was up 35.5% compared to the same quarter last year. As a group, sell-side analysts forecast that GoodRx will post -0.51 EPS for the current fiscal year.

In other GoodRx news, Director Agnes Rey-Giraud sold 25,000 shares of the business’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $36.38, for a total transaction of $909,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Karsten Voermann sold 12,500 shares of the company’s stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $40.25, for a total value of $503,125.00. Following the sale, the chief financial officer now owns 12,500 shares of the company’s stock, valued at $503,125. The disclosure for this sale can be found here. Insiders sold 1,957,616 shares of company stock worth $71,468,673 over the last three months.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zevenbergen Capital Investments LLC increased its position in GoodRx by 250.8% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 1,659,068 shares of the company’s stock worth $66,927,000 after purchasing an additional 1,186,078 shares in the last quarter. Morgan Stanley increased its position in shares of GoodRx by 63.9% in the fourth quarter. Morgan Stanley now owns 2,704,734 shares of the company’s stock worth $109,109,000 after acquiring an additional 1,054,662 shares in the last quarter. Tiger Global Management LLC raised its stake in shares of GoodRx by 53.2% in the 4th quarter. Tiger Global Management LLC now owns 2,145,000 shares of the company’s stock valued at $86,529,000 after acquiring an additional 745,000 shares during the period. Tiff Advisory Services Inc. acquired a new position in shares of GoodRx during the 4th quarter valued at $25,692,000. Finally, Technology Crossover Management X Ltd. purchased a new stake in GoodRx during the 4th quarter worth $20,170,000. 43.42% of the stock is currently owned by institutional investors and hedge funds.

About GoodRx

GoodRx Holdings, Inc, through its subsidiaries, provides information and tools to enables consumers 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 through GoodRx codes that can be used to save money on prescriptions across the United States.

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Analyst Recommendations for GoodRx (NASDAQ:GDRX)

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