GoodRx (NASDAQ:GDRX) Stock Price Down 6% – Here’s Why

GoodRx Holdings, Inc. (NASDAQ:GDRX)’s stock price was down 6% during trading on Wednesday . The stock traded as low as $2.29 and last traded at $2.2550. Approximately 431,567 shares changed hands during trading, a decline of 87% from the average daily volume of 3,441,525 shares. The stock had previously closed at $2.40.

Analysts Set New Price Targets

GDRX has been the topic of a number of research reports. Mizuho dropped their price objective on GoodRx from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. The Goldman Sachs Group lowered their target price on GoodRx from $4.00 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Jefferies Financial Group cut shares of GoodRx to a “hold” rating in a research note on Thursday, January 22nd. Barclays began coverage on shares of GoodRx in a report on Monday, December 8th. They issued an “underweight” rating and a $3.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of GoodRx in a report on Tuesday, December 23rd. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.98.

GoodRx Trading Down 6.5%

The business’s 50-day moving average price is $2.44 and its two-hundred day moving average price is $3.16. 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 company has a market capitalization of $762.02 million, a P/E ratio of 24.95, a PEG ratio of 1.63 and a beta of 1.52.

GoodRx (NASDAQ:GDRX) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $194.79 million during the quarter, compared to analyst estimates of $193.27 million. GoodRx had a return on equity of 9.31% and a net margin of 3.82%.GoodRx’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. As a group, analysts forecast that GoodRx Holdings, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of GoodRx

A number of institutional investors have recently modified their holdings of GDRX. LSV Asset Management boosted its holdings in GoodRx by 517.1% during the third quarter. LSV Asset Management now owns 2,354,581 shares of the company’s stock worth $9,960,000 after purchasing an additional 1,973,017 shares during the last quarter. XTX Topco Ltd lifted its position in GoodRx by 281.2% during the 2nd quarter. XTX Topco Ltd now owns 272,273 shares of the company’s stock worth $1,356,000 after buying an additional 200,852 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of GoodRx during the 3rd quarter worth about $3,036,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of GoodRx by 16.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,671,521 shares of the company’s stock valued at $8,324,000 after acquiring an additional 236,896 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of GoodRx in the third quarter valued at about $3,687,000. 63.77% of the stock is currently owned by institutional investors.

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.