Morgan Stanley Cuts GoodRx (NASDAQ:GDRX) Price Target to $10.50

GoodRx (NASDAQ:GDRX – Get Rating) had its price target decreased by Morgan Stanley from $19.00 to $10.50 in a research note released on Friday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages also recently commented on GDRX. Cowen downgraded GoodRx from an outperform rating to a market perform rating and reduced their target price for the stock from $49.00 to $22.00 in a research note on Tuesday, March 1st. Credit Suisse Group reduced their target price on GoodRx from $22.00 to $10.00 in a research note on Wednesday, May 11th. Evercore ISI reduced their target price on GoodRx from $47.00 to $28.00 and set an outperform rating for the company in a research note on Tuesday, March 1st. SVB Leerink downgraded GoodRx from an outperform rating to a market perform rating and reduced their target price for the stock from $33.00 to $10.00 in a research note on Tuesday, May 10th. Finally, Robert W. Baird boosted their price target on GoodRx from $17.00 to $23.00 in a research note on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, GoodRx currently has a consensus rating of Hold and an average price target of $21.74.

GDRX stock opened at $8.22 on Friday. The company has a quick ratio of 16.76, a current ratio of 16.76 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $15.23 and a two-hundred day moving average price of $24.91. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -205.50, a P/E/G ratio of 4.86 and a beta of 0.29. GoodRx has a twelve month low of $7.33 and a twelve month high of $48.05.

GoodRx (NASDAQ:GDRX – Get Rating) last issued its earnings results on Monday, May 9th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. GoodRx had a positive return on equity of 2.86% and a negative net margin of 1.86%. The company had revenue of $203.30 million during the quarter, compared to the consensus estimate of $200.61 million. During the same period in the previous year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, equities research analysts anticipate that GoodRx will post 0.1 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of GDRX. AdvisorNet Financial Inc grew its position in GoodRx by 275.0% during the 1st quarter. AdvisorNet Financial Inc now owns 1,875 shares of the company’s stock worth $36,000 after acquiring an additional 1,375 shares during the last quarter. IFP Advisors Inc raised its stake in GoodRx by 301.0% during the 4th quarter. IFP Advisors Inc now owns 1,163 shares of the company’s stock worth $41,000 after buying an additional 873 shares during the period. CWM LLC raised its stake in GoodRx by 50.2% during the 1st quarter. CWM LLC now owns 2,224 shares of the company’s stock worth $43,000 after buying an additional 743 shares during the period. Spire Wealth Management raised its stake in shares of GoodRx by 50.0% in the fourth quarter. Spire Wealth Management now owns 1,500 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the last quarter. Finally, Pinnacle Holdings LLC purchased a new stake in shares of GoodRx in the third quarter worth approximately $91,000. Institutional investors and hedge funds own 52.60% of the company’s stock.

GoodRx Company Profile (Get Rating)

GoodRx Holdings, Inc, through 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 through GoodRx codes that are used to save money on prescriptions across the United States.

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