GoodRx (NASDAQ:GDRX) Posts Quarterly Earnings Results, Hits Expectations

GoodRx (NASDAQ:GDRX) posted its quarterly earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08, FiscalAI reports. GoodRx had a return on equity of 7.90% and a net margin of 2.61%.The business had revenue of $200.41 million during the quarter, compared to the consensus estimate of $193.23 million. During the same period in the prior year, the company posted $0.09 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year.

GoodRx Stock Up 11.8%

Shares of GDRX traded up $0.39 during mid-day trading on Thursday, hitting $3.65. The company’s stock had a trading volume of 2,679,632 shares, compared to its average volume of 2,102,896. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 61.28, a PEG ratio of 1.55 and a beta of 1.60. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.78. GoodRx has a 52-week low of $1.77 and a 52-week high of $5.81. The company’s 50-day moving average is $2.92 and its 200-day moving average is $2.53.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GDRX shares. Citigroup restated a “buy” rating on shares of GoodRx in a research report on Thursday, July 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $3.50 target price on shares of GoodRx in a report on Friday, May 8th. TD Cowen upped their price target on shares of GoodRx from $3.00 to $4.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings lowered shares of GoodRx from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.81.

Institutional Investors Weigh In On GoodRx

Large investors have recently modified their holdings of the business. Lazard Asset Management LLC increased its stake in shares of GoodRx by 43.6% during the second quarter. Lazard Asset Management LLC now owns 17,142 shares of the company’s stock worth $85,000 after acquiring an additional 5,201 shares during the period. Brevan Howard Capital Management LP increased its position in GoodRx by 7.7% during the 3rd quarter. Brevan Howard Capital Management LP now owns 95,483 shares of the company’s stock worth $404,000 after purchasing an additional 6,842 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of GoodRx by 202.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,327 shares of the company’s stock worth $56,000 after buying an additional 7,580 shares in the last quarter. Quarry LP acquired a new stake in shares of GoodRx in the 3rd quarter valued at approximately $33,000. Finally, Cetera Investment Advisers purchased a new stake in shares of GoodRx in the second quarter valued at approximately $50,000. 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.