GoodRx (NASDAQ:GDRX) Shares Up 15.7% – Here’s Why

GoodRx Holdings, Inc. (NASDAQ:GDRX) traded up 15.7% during trading on Thursday . The company traded as high as $3.82 and last traded at $3.7850. 2,064,694 shares changed hands during trading, a decline of 2% from the average session volume of 2,096,267 shares. The stock had previously closed at $3.27.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $3.50 price objective on shares of GoodRx in a report on Friday, May 8th. Weiss Ratings cut shares of GoodRx from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. TD Cowen lifted their price target on GoodRx from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Citigroup reissued a “buy” rating on shares of GoodRx in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.81.

GoodRx Price Performance

The stock has a market capitalization of $1.28 billion, a P/E ratio of 62.93, a PEG ratio of 1.55 and a beta of 1.60. The company has a 50 day moving average of $2.92 and a 200-day moving average of $2.53. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.78.

GoodRx (NASDAQ:GDRX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. GoodRx had a net margin of 2.61% and a return on equity of 7.90%. The company had revenue of $200.41 million for the quarter, compared to the consensus estimate of $193.23 million. During the same period last year, the firm posted $0.09 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts predict that GoodRx Holdings, Inc. will post 0.17 EPS for the current year.

Hedge Funds Weigh In On GoodRx

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC lifted its position in shares of GoodRx by 43.6% during the 2nd quarter. Lazard Asset Management LLC now owns 17,142 shares of the company’s stock valued at $85,000 after acquiring an additional 5,201 shares during the last quarter. Brevan Howard Capital Management LP raised its stake in GoodRx by 7.7% during the 3rd quarter. Brevan Howard Capital Management LP now owns 95,483 shares of the company’s stock valued at $404,000 after purchasing an additional 6,842 shares during the period. Hirtle Callaghan & Co LLC lifted its holdings in shares of GoodRx by 60.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 18,261 shares of the company’s stock valued at $49,000 after purchasing an additional 6,869 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of GoodRx by 202.3% in the second 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 during the period. Finally, Quarry LP acquired a new stake in shares of GoodRx in the third quarter worth $33,000. 63.77% of the stock is currently owned by institutional investors and hedge funds.

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.