GoodRx (NASDAQ:GDRX) Sees Strong Trading Volume – Time to Buy?

GoodRx Holdings, Inc. (NASDAQ:GDRX) saw an uptick in trading volume on Friday . 670,223 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 476,006 shares.The stock last traded at $4.45 and had previously closed at $4.56.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GDRX shares. Citigroup cut their target price on shares of GoodRx from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Morgan Stanley decreased 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. Barclays cut their target price on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Mizuho began coverage on GoodRx in a report on Wednesday, December 4th. They issued a “neutral” rating and a $5.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, GoodRx currently has an average rating of “Moderate Buy” and an average price target of $8.64.

GoodRx Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 5.48 and a quick ratio of 5.48. The stock has a market capitalization of $1.68 billion, a PE ratio of -147.33, a P/E/G ratio of 3.54 and a beta of 1.29. The company has a 50-day moving average of $4.94 and a two-hundred day moving average of $6.72.

Institutional Trading of GoodRx

A number of hedge funds have recently made changes to their positions in GDRX. Fortem Financial Group LLC purchased a new position in GoodRx in the 3rd quarter valued at about $772,000. Charles Schwab Investment Management Inc. grew its holdings in GoodRx by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,123 shares of the company’s stock worth $3,332,000 after acquiring an additional 26,262 shares in the last quarter. Raymond James & Associates raised its stake in shares of GoodRx by 212.6% in the 3rd quarter. Raymond James & Associates now owns 394,006 shares of the company’s stock valued at $2,734,000 after purchasing an additional 267,951 shares in the last quarter. Barclays PLC lifted its holdings in GoodRx by 1,316.1% during the 3rd quarter. Barclays PLC now owns 140,113 shares of the company’s stock worth $973,000 after buying an additional 130,219 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of GoodRx by 260.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,419 shares of the company’s stock worth $308,000 after acquiring an additional 32,104 shares in the last quarter. Hedge funds and other 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.