GoodRx (NASDAQ:GDRX) Trading 5.9% Higher – Here’s Why

GoodRx Holdings, Inc. (NASDAQ:GDRX) shot up 5.9% on Thursday . The company traded as high as $4.24 and last traded at $4.25. 518,995 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 1,371,963 shares. The stock had previously closed at $4.01.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GDRX. The Goldman Sachs Group decreased their target price on shares of GoodRx from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. UBS Group decreased their target price on shares of GoodRx from $6.00 to $5.25 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Truist Financial decreased their target price on shares of GoodRx from $6.50 to $5.50 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Wells Fargo & Company decreased their target price on shares of GoodRx from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GoodRx presently has a consensus rating of “Moderate Buy” and an average price target of $6.55.

GoodRx Stock Performance

The business’s 50-day moving average price is $4.25 and its 200-day moving average price is $4.54. 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 stock has a market cap of $1.46 billion, a P/E ratio of -136.00, a P/E/G ratio of 2.46 and a beta of 1.16.

GoodRx (NASDAQ:GDRX) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. GoodRx had a negative net margin of 2.05% and a positive return on equity of 5.35%. The firm had revenue of $202.97 million during the quarter, compared to the consensus estimate of $202.25 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that GoodRx Holdings, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GoodRx

Hedge funds have recently modified their holdings of the business. IMC Chicago LLC bought a new position in GoodRx in the 4th quarter worth $304,000. Olympiad Research LP bought a new position in GoodRx in the 4th quarter worth $147,000. Bank of New York Mellon Corp boosted its holdings in GoodRx by 10.1% in the 4th quarter. Bank of New York Mellon Corp now owns 192,612 shares of the company’s stock worth $896,000 after buying an additional 17,633 shares during the period. Versor Investments LP bought a new position in GoodRx in the 4th quarter worth $54,000. Finally, Verus Capital Partners LLC bought a new position in GoodRx in the 4th quarter worth $55,000. Institutional investors own 63.77% of the company’s stock.

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.