Morgan Stanley Raises GoodRx (NASDAQ:GDRX) Price Target to $9.50

GoodRx (NASDAQ:GDRX) had its price objective increased by Morgan Stanley from $7.00 to $9.50 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages also recently weighed in on GDRX. KeyCorp upgraded GoodRx from a sector weight rating to an overweight rating and set a $9.00 price objective for the company in a research report on Wednesday, April 10th. Barclays boosted their price objective on GoodRx from $9.00 to $10.00 and gave the company an overweight rating in a research report on Monday, May 20th. Raymond James upgraded GoodRx from a market perform rating to an outperform rating and set a $10.00 price objective for the company in a research report on Thursday, May 16th. Royal Bank of Canada upgraded GoodRx from a sector perform rating to an outperform rating and boosted their price objective for the company from $8.00 to $10.00 in a research report on Thursday, May 23rd. Finally, TD Cowen boosted their price objective on GoodRx from $14.00 to $16.00 and gave the company a buy rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, GoodRx presently has an average rating of Moderate Buy and an average price target of $9.32.

GoodRx Stock Down 0.4 %

Shares of GDRX opened at $8.85 on Monday. The firm has a market cap of $3.32 billion, a P/E ratio of -884.12, a P/E/G ratio of 4.15 and a beta of 1.40. The stock has a 50 day simple moving average of $7.30 and a two-hundred day simple moving average of $6.79. The company has a debt-to-equity ratio of 1.02, a current ratio of 6.29 and a quick ratio of 6.29. GoodRx has a 1 year low of $4.14 and a 1 year high of $9.37.

GoodRx (NASDAQ:GDRX) last issued its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $197.88 million during the quarter, compared to analysts’ expectations of $196.20 million. GoodRx had a positive return on equity of 3.45% and a negative net margin of 0.86%. On average, analysts forecast that GoodRx will post 0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GoodRx

A number of institutional investors have recently added to or reduced their stakes in GDRX. Beacon Capital Management LLC bought a new position in GoodRx in the first quarter worth $28,000. Citigroup Inc. raised its holdings in GoodRx by 301.7% in the third quarter. Citigroup Inc. now owns 7,997 shares of the company’s stock worth $45,000 after purchasing an additional 6,006 shares in the last quarter. Gerber LLC bought a new position in GoodRx in the fourth quarter worth $75,000. Innealta Capital LLC bought a new position in GoodRx in the fourth quarter worth $91,000. Finally, Schnieders Capital Management LLC purchased a new stake in shares of GoodRx in the first quarter worth $93,000. Institutional investors 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.