Citigroup Cuts GoodRx (NASDAQ:GDRX) Price Target to $7.00

GoodRx (NASDAQ:GDRX) had its price target trimmed by Citigroup from $10.00 to $7.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price target on shares of GoodRx in a research note on Friday, August 16th. Raymond James raised GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 target price for the company in a research report on Friday, August 9th. Barclays decreased their target price on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, UBS Group decreased their target price on GoodRx from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GoodRx currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.86.

GoodRx Stock Performance

Shares of GoodRx stock opened at $4.15 on Wednesday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -138.33, a PEG ratio of 3.22 and a beta of 1.39. The firm’s 50-day moving average is $6.55 and its 200 day moving average is $7.42. GoodRx has a 1 year low of $4.09 and a 1 year 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.

Insiders Place Their Bets

In other GoodRx news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.86, for a total value of $83,921.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GDRX. American Century Companies Inc. bought a new position in shares of GoodRx during the 2nd quarter valued at approximately $18,183,000. Point72 Asset Management L.P. purchased a new stake in GoodRx during the 3rd quarter valued at $11,295,000. Rubric Capital Management LP raised its holdings in GoodRx by 76.5% during the 2nd quarter. Rubric Capital Management LP now owns 3,736,802 shares of the company’s stock valued at $29,147,000 after buying an additional 1,619,748 shares during the period. Millennium Management LLC raised its holdings in GoodRx by 36.5% during the 2nd quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock valued at $32,151,000 after buying an additional 1,102,758 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in GoodRx during the 1st quarter valued at $3,467,000. 63.77% of the stock is currently owned by institutional investors.

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.