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

GoodRx Holdings, Inc. (NASDAQ:GDRX - Get Free Report)'s stock price dropped 8.4% during 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. Approximately 959,968 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 1,288,451 shares. The stock had previously closed at $4.55.

Other research analysts have also issued research reports about the stock. Morgan Stanley reduced their price objective on shares of GoodRx from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. KeyCorp lowered their target price on shares of GoodRx from $7.00 to $6.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Barclays cut their price target on shares of GoodRx from $10.00 to $6.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Finally, Mizuho assumed coverage on shares of GoodRx in a report on Wednesday, December 4th. They set a "neutral" rating and a $5.00 price objective on the stock. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $8.38.

Hedge Funds Weigh In On GoodRx

Several institutional investors have recently made changes to their positions in GDRX. nVerses Capital LLC purchased a new position in GoodRx in the third quarter valued at $33,000. Plato Investment Management Ltd purchased a new position in shares of GoodRx in the 2nd quarter valued at about $43,000. Fortem Financial Group LLC raised its holdings in GoodRx by 7.2% in the 4th quarter. Fortem Financial Group LLC now owns 119,179 shares of the company's stock worth $554,000 after purchasing an additional 7,996 shares during the period. XTX Topco Ltd boosted its position in GoodRx by 42.4% during the second quarter. XTX Topco Ltd now owns 29,560 shares of the company's stock worth $231,000 after purchasing an additional 8,801 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in GoodRx by 5.9% in the second quarter. Canada Pension Plan Investment Board now owns 166,142 shares of the company's stock valued at $1,296,000 after purchasing an additional 9,200 shares during the period. 63.77% of the stock is owned by hedge funds and other institutional investors.

GoodRx Price Performance

The firm has a market capitalization of $1.61 billion, a PE ratio of -140.67, a PEG ratio of 3.43 and a beta of 1.27. 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 stock has a 50-day moving average price of $4.72 and a 200 day moving average price of $6.55.

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.