GoodRx (NASDAQ:GDRX) Trading Down 8.4% Following Analyst Downgrade

GoodRx Holdings, Inc. (NASDAQ:GDRX)’s share price traded down 8.4% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $7.00 to $6.25. Citigroup currently has a buy rating on the stock. GoodRx traded as low as $4.16 and last traded at $4.17. 959,968 shares were traded during trading, a decline of 25% from the average session volume of 1,288,451 shares. The stock had previously closed at $4.55.

A number of other brokerages have also issued reports on GDRX. KeyCorp dropped their target price on shares of GoodRx from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Barclays cut their price objective on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Morgan Stanley decreased their target price on GoodRx from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Mizuho initiated coverage on GoodRx in a report on Wednesday, December 4th. They issued a “neutral” rating and a $5.00 price target for the company. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.38.

Hedge Funds Weigh In On GoodRx

A number of institutional investors and hedge funds have recently bought and sold shares of GDRX. nVerses Capital LLC bought a new position in GoodRx in the 3rd quarter valued at $33,000. Plato Investment Management Ltd acquired a new position in shares of GoodRx during the second quarter valued at $43,000. EP Wealth Advisors LLC bought a new position in GoodRx in the third quarter valued at about $73,000. Dark Forest Capital Management LP acquired a new stake in GoodRx in the second quarter worth about $86,000. Finally, Sanctuary Advisors LLC bought a new stake in GoodRx during the 3rd quarter worth about $85,000. Institutional investors and hedge funds own 63.77% of the company’s stock.

GoodRx Trading Down 8.4 %

The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -139.00, a P/E/G ratio of 3.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.48 and a current ratio of 5.48. The business’s 50-day simple moving average is $4.72 and its 200-day simple moving average is $6.55.

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.