Citigroup Lowers GoodRx (NASDAQ:GDRX) Price Target to $3.50

GoodRx (NASDAQ:GDRX) had its price objective cut by equities researchers at Citigroup from $4.50 to $3.50 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 60.55% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. TD Cowen reduced their target price on GoodRx from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Morgan Stanley cut their price target on shares of GoodRx from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Thursday, December 18th. The Goldman Sachs Group decreased their price objective on shares of GoodRx from $4.00 to $2.50 and set a “neutral” rating for the company in a report on Monday. UBS Group cut their target price on shares of GoodRx from $4.25 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GoodRx in a research note on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.98.

GoodRx Stock Performance

Shares of GDRX stock opened at $2.18 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.61 and a quick ratio of 2.61. The company’s fifty day moving average price is $2.47 and its two-hundred day moving average price is $3.23. The firm has a market capitalization of $739.96 million, a P/E ratio of 24.22, a P/E/G ratio of 1.43 and a beta of 1.52. GoodRx has a 12 month low of $1.77 and a 12 month high of $5.81.

GoodRx (NASDAQ:GDRX) last announced its earnings results on Wednesday, February 25th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $194.79 million for the quarter, compared to analyst estimates of $193.27 million. GoodRx had a return on equity of 9.31% and a net margin of 3.82%.The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, research analysts anticipate that GoodRx will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoodRx

Institutional investors have recently made changes to their positions in the stock. Alpine Global Management LLC acquired a new stake in shares of GoodRx during the 4th quarter worth approximately $177,000. Virtu Financial LLC increased its position in GoodRx by 903.3% in the fourth quarter. Virtu Financial LLC now owns 133,886 shares of the company’s stock worth $363,000 after buying an additional 120,542 shares during the period. Invesco Ltd. increased its position in GoodRx by 48.8% in the fourth quarter. Invesco Ltd. now owns 186,534 shares of the company’s stock worth $506,000 after buying an additional 61,193 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in GoodRx in the fourth quarter valued at $51,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of GoodRx during the fourth quarter valued at $44,000. 63.77% of the stock is owned by institutional investors.

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.