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

GoodRx (NASDAQ:GDRX) had its price objective lowered by Citigroup from $10.00 to $7.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other brokerages have also commented on GDRX. UBS Group cut their price target on GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Raymond James raised 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective on shares of GoodRx in a research report on Friday, August 16th. Finally, Barclays dropped their price objective on GoodRx from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.86.

GoodRx Stock Performance

GDRX stock opened at $4.15 on Wednesday. The company has a quick ratio of 5.48, a current ratio of 5.48 and a debt-to-equity ratio of 0.70. The business’s fifty day simple moving average is $6.55 and its two-hundred day simple moving average is $7.42. GoodRx has a twelve month low of $4.09 and a twelve month high of $9.26. The firm 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.

Insider Transactions at GoodRx

In other GoodRx 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 stock was sold at an average price of $7.86, for a total transaction of $83,921.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On GoodRx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDRX. Cornercap Investment Counsel Inc. lifted its stake in shares of GoodRx by 1.7% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 75,269 shares of the company’s stock valued at $587,000 after purchasing an additional 1,266 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of GoodRx by 5.1% in the 1st quarter. California State Teachers Retirement System now owns 70,912 shares of the company’s stock valued at $503,000 after purchasing an additional 3,444 shares during the last quarter. US Bancorp DE lifted its stake in shares of GoodRx by 3.7% in the 1st quarter. US Bancorp DE now owns 109,818 shares of the company’s stock valued at $780,000 after purchasing an additional 3,877 shares during the last quarter. Beacon Capital Management LLC acquired a new position in shares of GoodRx in the 1st quarter valued at $28,000. Finally, nVerses Capital LLC acquired a new position in shares of GoodRx in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 63.77% of the company’s stock.

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.