GoodRx (NASDAQ:GDRX) Stock Price Down 8.4% Following Analyst Downgrade

Shares of GoodRx Holdings, Inc. (NASDAQ:GDRX) traded down 8.4% during mid-day 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. 959,968 shares changed hands during trading, a decline of 25% from the average session volume of 1,288,451 shares. The stock had previously closed at $4.55.

GDRX has been the topic of a number of other reports. KeyCorp lowered their price objective on shares of GoodRx from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Barclays cut their price objective on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Morgan Stanley dropped their target price 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. Finally, Mizuho initiated coverage on GoodRx in a report on Wednesday, December 4th. They set a “neutral” rating and a $5.00 price target for the company. Five research 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 company. According to data from MarketBeat.com, GoodRx has a consensus rating of “Moderate Buy” and an average price target of $8.38.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP lifted its holdings in shares of GoodRx by 25.2% during the third quarter. Rubric Capital Management LP now owns 4,680,028 shares of the company’s stock worth $32,479,000 after purchasing an additional 943,226 shares during the period. Millennium Management LLC lifted 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 worth $32,151,000 after buying an additional 1,102,758 shares during the period. American Century Companies Inc. bought a new stake in shares of GoodRx in the 2nd quarter valued at about $18,183,000. Point72 Asset Management L.P. acquired a new stake in shares of GoodRx in the third quarter valued at about $11,295,000. Finally, Geode Capital Management LLC raised its position in shares of GoodRx by 6.3% during the third quarter. Geode Capital Management LLC now owns 982,729 shares of the company’s stock worth $6,823,000 after acquiring an additional 58,610 shares during the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

GoodRx Stock Performance

The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -140.67, a price-to-earnings-growth ratio of 3.43 and a beta of 1.27. The stock has a 50 day moving average of $4.68 and a 200 day moving average of $6.53. The company has a quick ratio of 5.48, a current ratio of 5.48 and a debt-to-equity ratio of 0.70.

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.