Wells Fargo & Company Issues Positive Forecast for GoodRx (NASDAQ:GDRX) Stock Price

GoodRx (NASDAQ:GDRX) had its price objective hoisted by Wells Fargo & Company from $3.50 to $5.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on GDRX. Leerink Partners set a $5.00 price objective on GoodRx in a research report on Thursday. TD Cowen upped their target price on GoodRx from $3.00 to $4.00 and gave the company a “buy” rating in a report on Monday, May 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $4.00 price target on shares of GoodRx in a research note on Friday. Weiss Ratings cut shares of GoodRx from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, July 23rd. Finally, Citigroup reissued a “buy” rating on shares of GoodRx in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, GoodRx has an average rating of “Hold” and a consensus target price of $4.15.

GoodRx Stock Performance

GoodRx stock opened at $3.68 on Friday. GoodRx has a fifty-two week low of $1.77 and a fifty-two week high of $5.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.47 and a current ratio of 1.38. The stock has a market cap of $1.26 billion, a P/E ratio of 92.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.60. The firm’s fifty day moving average price is $2.95 and its 200-day moving average price is $2.55.

GoodRx (NASDAQ:GDRX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. GoodRx had a net margin of 2.07% and a return on equity of 7.22%. The firm had revenue of $200.41 million for the quarter, compared to the consensus estimate of $194.56 million. During the same period last year, the firm posted $0.09 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that GoodRx will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoodRx

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in shares of GoodRx by 124.4% during the 1st quarter. AQR Capital Management LLC now owns 282,320 shares of the company’s stock valued at $1,245,000 after buying an additional 156,482 shares in the last quarter. Goldman Sachs Group Inc. grew its position in GoodRx by 7.5% in the first quarter. Goldman Sachs Group Inc. now owns 783,378 shares of the company’s stock worth $3,455,000 after acquiring an additional 54,783 shares in the last quarter. Jane Street Group LLC bought a new stake in GoodRx during the first quarter worth approximately $370,000. Creative Planning bought a new stake in GoodRx during the second quarter worth approximately $93,000. Finally, Cetera Investment Advisers purchased a new stake in GoodRx during the second quarter valued at approximately $50,000. 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.