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

GoodRx Holdings, Inc. (NASDAQ:GDRX) 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 traded hands during mid-day trading, a decline of 25% from the average daily volume of 1,288,451 shares. The stock had previously closed at $4.55.

Other equities research analysts have also issued research reports about the company. Barclays reduced their target price on GoodRx from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Morgan Stanley reduced their price objective 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. Mizuho initiated coverage on GoodRx in a research report on Wednesday, December 4th. They set a “neutral” rating and a $5.00 price objective for the company. Finally, KeyCorp cut their target price on shares of GoodRx from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.38.

Hedge Funds Weigh In On GoodRx

A number of institutional investors have recently added to or reduced their stakes in GDRX. Fortem Financial Group LLC boosted its stake in shares of GoodRx by 7.2% during the 4th quarter. Fortem Financial Group LLC now owns 119,179 shares of the company’s stock valued at $554,000 after buying an additional 7,996 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in GoodRx by 358.7% in the third quarter. JPMorgan Chase & Co. now owns 24,293 shares of the company’s stock valued at $169,000 after acquiring an additional 18,997 shares in the last quarter. Franklin Resources Inc. bought a new position in GoodRx during the 3rd quarter valued at $5,675,000. Sanctuary Advisors LLC acquired a new position in GoodRx during the 3rd quarter worth $85,000. Finally, Barclays PLC increased its position in shares of GoodRx by 1,316.1% in the 3rd quarter. Barclays PLC now owns 140,113 shares of the company’s stock worth $973,000 after purchasing an additional 130,219 shares during the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

GoodRx Price Performance

The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.70. The company’s 50-day moving average price is $4.65 and its two-hundred day moving average price is $6.50. The company has a market cap of $1.58 billion, a P/E ratio of -138.33, a P/E/G ratio of 3.43 and a beta of 1.27.

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.