GoodRx (NASDAQ:GDRX) Shares Down 8.4% on Analyst Downgrade

GoodRx Holdings, Inc. (NASDAQ:GDRX)’s share price dropped 8.4% during 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. Approximately 959,968 shares changed hands during trading, a decline of 25% from the average daily volume of 1,288,451 shares. The stock had previously closed at $4.55.

Other analysts have also recently issued reports about the company. Barclays lowered their price target on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Mizuho began coverage on shares of GoodRx in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $5.00 target price for the company. KeyCorp reduced their price target 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. Finally, Morgan Stanley decreased their price target on shares of GoodRx from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.38.

Hedge Funds Weigh In On GoodRx

Hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of GoodRx in the third quarter worth $33,000. Plato Investment Management Ltd bought a new position in GoodRx in the second quarter valued at $43,000. EP Wealth Advisors LLC acquired a new stake in GoodRx in the 3rd quarter valued at $73,000. Sanctuary Advisors LLC bought a new stake in GoodRx during the 3rd quarter worth about $85,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of GoodRx during the 2nd quarter worth about $86,000. 63.77% of the stock is owned by institutional investors.

GoodRx Price Performance

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 company has a fifty day moving average price of $4.72 and a two-hundred day moving average price of $6.55. The company has a market cap of $1.59 billion, a P/E ratio of -139.00, a PEG ratio of 3.43 and a beta of 1.27.

GoodRx Company Profile

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.