Citigroup Issues Pessimistic Forecast for GoodRx (NASDAQ:GDRX) Stock Price

GoodRx (NASDAQ:GDRX) had its price target dropped by research analysts at Citigroup from $10.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 53.51% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Raymond James raised shares of GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a research report on Friday, August 9th. Barclays decreased 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of GoodRx in a research report on Friday, August 16th. Finally, UBS Group lowered their target price on shares of GoodRx from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.86.

GoodRx Price Performance

Shares of NASDAQ:GDRX opened at $4.56 on Wednesday. GoodRx has a 52 week low of $4.55 and a 52 week high of $9.26. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.48 and a quick ratio of 5.48. The firm has a fifty day simple moving average of $6.69 and a two-hundred day simple moving average of $7.46.

Insider Activity

In related news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.86, for a total transaction of $83,921.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.17% of the company’s stock.

Institutional Trading of GoodRx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDRX. Rubric Capital Management LP lifted its position in shares of GoodRx by 25.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,680,028 shares of the company’s stock valued at $32,479,000 after buying an additional 943,226 shares in the last quarter. Millennium Management LLC lifted its holdings in GoodRx by 36.5% during the second quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock valued at $32,151,000 after purchasing an additional 1,102,758 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of GoodRx during the second quarter worth about $18,183,000. Picton Mahoney Asset Management raised its position in shares of GoodRx by 24.3% during the 2nd quarter. Picton Mahoney Asset Management now owns 607,090 shares of the company’s stock worth $4,736,000 after purchasing an additional 118,703 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in GoodRx by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,123 shares of the company’s stock valued at $3,332,000 after buying an additional 26,262 shares in the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

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.