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

GoodRx (NASDAQ:GDRX) had its price target lowered by investment analysts at Citigroup from $10.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 51.84% from the stock’s current price.

Several other analysts also recently commented on GDRX. Barclays cut their price objective on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday. 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 target on shares of GoodRx in a 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 on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.86.

GoodRx Stock Down 1.9 %

NASDAQ:GDRX traded down $0.09 during trading hours on Wednesday, reaching $4.61. 1,124,915 shares of the company traded hands, compared to its average volume of 1,418,225. GoodRx has a 1 year low of $4.57 and a 1 year high of $9.26. The stock has a market capitalization of $1.75 billion, a P/E ratio of -153.67, a P/E/G ratio of 3.24 and a beta of 1.39. The business’s 50-day moving average price is $6.76 and its two-hundred day moving average price is $7.48. The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.70.

Insider Activity

In other GoodRx news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of GoodRx stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.17% of the company’s stock.

Institutional Investors Weigh In On GoodRx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Beacon Capital Management LLC purchased a new position in GoodRx during the first quarter valued at approximately $28,000. nVerses Capital LLC bought a new stake in shares of GoodRx in the third quarter worth about $33,000. Plato Investment Management Ltd bought a new position in GoodRx during the 2nd quarter worth about $43,000. Dark Forest Capital Management LP bought a new position in GoodRx in the second quarter valued at $86,000. Finally, EntryPoint Capital LLC boosted its stake in shares of GoodRx by 165.2% during the 1st quarter. EntryPoint Capital LLC now owns 18,538 shares of the company’s stock worth $132,000 after buying an additional 11,548 shares during the last quarter. 63.77% of the stock is currently owned by institutional investors.

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.