GoodRx (NASDAQ:GDRX) Shares Gap Down to $7.61

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares gapped down before the market opened on Thursday . The stock had previously closed at $7.61, but opened at $7.10. GoodRx shares last traded at $7.19, with a volume of 492,857 shares changing hands.

Analyst Upgrades and Downgrades

GDRX has been the subject of several recent research reports. TD Cowen lifted their target price on shares of GoodRx from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Wells Fargo & Company upgraded GoodRx from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $7.50 to $10.00 in a report on Monday, March 25th. KeyCorp upgraded GoodRx from a “sector weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a report on Wednesday, April 10th. Leerink Partnrs reaffirmed an “outperform” rating on shares of GoodRx in a report on Monday, February 26th. Finally, 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 report on Friday, March 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.78.

GoodRx Price Performance

The firm has a market capitalization of $2.74 billion, a P/E ratio of -356.32, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. 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 company has a 50-day moving average price of $7.05 and a 200-day moving average price of $6.38.

GoodRx (NASDAQ:GDRX) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $196.64 million during the quarter, compared to the consensus estimate of $195.59 million. GoodRx had a positive return on equity of 2.45% and a negative net margin of 1.18%. On average, sell-side analysts predict that GoodRx Holdings, Inc. will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On GoodRx

Several large investors have recently modified their holdings of GDRX. Bank of New York Mellon Corp grew its holdings in shares of GoodRx by 7.5% during the third quarter. Bank of New York Mellon Corp now owns 189,560 shares of the company’s stock worth $1,067,000 after purchasing an additional 13,235 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of GoodRx in the third quarter worth $68,000. Olympiad Research LP increased its position in shares of GoodRx by 56.0% during the third quarter. Olympiad Research LP now owns 50,184 shares of the company’s stock valued at $283,000 after acquiring an additional 18,009 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of GoodRx during the 3rd quarter valued at about $121,000. Finally, Assenagon Asset Management S.A. increased its position in GoodRx by 6.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,250,728 shares of the company’s stock valued at $7,042,000 after acquiring an additional 75,690 shares during the last quarter. 63.77% of the stock is currently owned by institutional investors and hedge funds.

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.