GoodRx (NASDAQ:GDRX) Upgraded to Outperform by Royal Bank of Canada

GoodRx (NASDAQ:GDRX) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has a $10.00 target price on the stock, up from their previous target price of $8.00. Royal Bank of Canada’s price objective suggests a potential upside of 40.06% from the stock’s current price.

Several other brokerages also recently issued reports on GDRX. Wells Fargo & Company upgraded shares of GoodRx from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $7.50 to $10.00 in a research note on Monday, March 25th. Leerink Partnrs reiterated an “outperform” rating on shares of GoodRx in a research report on Monday, February 26th. KeyCorp upgraded shares of GoodRx from a “sector weight” rating to an “overweight” rating and set a $9.00 price target for the company in a research report on Wednesday, April 10th. Raymond James raised shares of GoodRx from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research report on Thursday, May 16th. Finally, TD Cowen raised their target price on GoodRx from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.11.

GoodRx Stock Performance

Shares of NASDAQ GDRX opened at $7.14 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 6.29 and a current ratio of 6.29. The stock has a 50 day moving average price of $6.97 and a 200 day moving average price of $6.53. The stock has a market capitalization of $2.68 billion, a PE ratio of -713.29, a price-to-earnings-growth ratio of 2.48 and a beta of 1.37. GoodRx has a 52 week low of $4.14 and a 52 week high of $9.37.

GoodRx (NASDAQ:GDRX) last released its earnings results on Thursday, February 29th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. GoodRx had a negative net margin of 0.86% and a positive return on equity of 3.45%. The business had revenue of $196.64 million during the quarter, compared to analysts’ expectations of $195.59 million. Analysts predict that GoodRx will post 0.23 earnings per share for the current fiscal year.

Institutional Trading of GoodRx

A number of large investors have recently bought and sold shares of GDRX. Bank of New York Mellon Corp grew its stake in GoodRx by 7.5% during the third quarter. Bank of New York Mellon Corp now owns 189,560 shares of the company’s stock worth $1,067,000 after purchasing an additional 13,235 shares during the period. Victory Capital Management Inc. bought a new stake in shares of GoodRx in the 3rd quarter valued at $121,000. Assenagon Asset Management S.A. increased its stake in shares of GoodRx by 6.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,250,728 shares of the company’s stock valued at $7,042,000 after acquiring an additional 75,690 shares in the last quarter. Versor Investments LP lifted its position in shares of GoodRx by 139.2% during the 3rd quarter. Versor Investments LP now owns 82,039 shares of the company’s stock valued at $462,000 after acquiring an additional 47,739 shares during the period. Finally, Swiss National Bank boosted its stake in GoodRx by 6.1% during the third quarter. Swiss National Bank now owns 164,500 shares of the company’s stock worth $926,000 after acquiring an additional 9,400 shares in the last quarter. 63.77% of the stock is currently owned by institutional investors and hedge funds.

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.