GoodRx (NASDAQ:GDRX) Issues Earnings Results, Meets Estimates

GoodRx (NASDAQ:GDRX) posted its quarterly earnings results on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08, FiscalAI reports. The firm had revenue of $200.41 million during the quarter, compared to the consensus estimate of $193.23 million. GoodRx had a return on equity of 7.90% and a net margin of 2.61%.The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 earnings per share.

GoodRx Stock Down 2.1%

Shares of GDRX traded down $0.07 during midday trading on Wednesday, reaching $3.27. 2,162,211 shares of the company were exchanged, compared to its average volume of 1,057,106. The stock has a 50-day moving average price of $2.92 and a 200-day moving average price of $2.53. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 54.51, a P/E/G ratio of 1.55 and a beta of 1.60. GoodRx has a 1-year low of $1.77 and a 1-year high of $5.81. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.78.

Institutional Investors Weigh In On GoodRx

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in GoodRx by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,207,340 shares of the company’s stock worth $38,947,000 after acquiring an additional 624,182 shares in the last quarter. Ameriprise Financial Inc. grew its position in GoodRx by 4.0% in the second quarter. Ameriprise Financial Inc. now owns 4,819,505 shares of the company’s stock valued at $24,001,000 after acquiring an additional 184,734 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of GoodRx by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,650,452 shares of the company’s stock valued at $7,183,000 after purchasing an additional 152,934 shares during the period. AQR Capital Management LLC raised its stake in shares of GoodRx by 188.0% during the fourth quarter. AQR Capital Management LLC now owns 1,158,546 shares of the company’s stock valued at $3,140,000 after purchasing an additional 756,209 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of GoodRx by 22.1% during the fourth quarter. Geode Capital Management LLC now owns 1,135,563 shares of the company’s stock worth $3,078,000 after purchasing an additional 205,628 shares in the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

Analyst Ratings Changes

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

About GoodRx

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.