Analysts are feeling bullish about GoodRx Holdings, Inc. (NASDAQ: GDRX) after the company’s strong fourth-quarter FY23 results. GoodRx saw a 7% year-over-year revenue increase to $196.6 million, surpassing expectations. Adjusted EBITDA also rose to $57.3 million, with an adjusted EPS of 8 cents, beating forecasts.
The company’s board of directors has approved a new stock repurchase program of up to $450 million, showing confidence in GoodRx’s performance. GoodRx is projecting FY24 revenue of $800 million and an adjusted EBITDA of around $250 million, with a potential adjusted EBITDA margin of 30% in the first quarter.
In response to these positive results, analysts have adjusted their price targets for GoodRx. For example, Barclays raised their price target from $8 to $9, keeping an Overweight rating. TD Cowen also upped their price target from $12 to $14 while maintaining an Outperform rating. The average twelve-month price forecast for GoodRx is approximately $8.00, with a high target of $12.00 and a low target of $4.50. Overall, analysts are optimistic about GoodRx’s future based on their revised forecasts and ratings.
Date: March 1, 2024
GoodRx Holdings Inc. (GDRX) Shows Strong Performance in Stock Market on March 1, 2024
On March 1, 2024, GoodRx Holdings Inc. (GDRX) showed strong performance in the stock market, with its price momentum indicating positive growth. According to data from CNN Money, GDRX is currently trading in the middle of its 52-week range and is above its 200-day simple moving average, suggesting that the stock is in a favorable position for potential growth.
One of the key indicators of GDRX’s performance on March 1 was its price change. The price of GDRX shares increased by $1.32 since the market last closed, representing a significant 20.40% rise. This indicates that investors have shown confidence in the stock, leading to substantial gains in its value.
As of the market close, GDRX was priced at $7.79 per share. However, in pre-market trading, the stock has continued to climb, with a further increase of $0.36. This additional rise in value further demonstrates the positive momentum that GDRX has been experiencing on March 1.
Overall, the performance of GDRX on March 1, 2024, has been impressive, with significant gains in its share price and positive momentum in the stock market. Investors will be closely watching to see if this trend continues and if GDRX can sustain its growth in the coming days and weeks.
GDRX Stock Performance Analysis: Revenue Flat, Net Loss Improving, EPS Increase
On March 1, 2024, GDRX stock showed mixed performances based on its financial data. The total revenue for the company stood at $750.26 million for the past year, which remained flat compared to the previous year. However, there was a 9.27% increase in total revenue since the last quarter, reaching $196.64 million.
In terms of net income, GDRX reported a net loss of $8.87 million for the past year, which was an improvement of 72.99% compared to the previous year. The net income for the last quarter was -$25.87 million, showing no change from the previous quarter.
Earnings per share (EPS) for GDRX were reported at -$0.02 for the past year, which was a 72.83% increase compared to the previous year. The EPS for the last quarter was -$0.06, showing no change from the previous quarter.
Overall, GDRX stock showed some positive signs with an increase in total revenue and improvements in net income and EPS compared to the previous year. However, the company still reported losses in net income and EPS for the last quarter, which may have impacted the stock performance on March 1, 2024.
Investors should closely monitor GDRX’s financial performance in the coming quarters to assess its long-term growth potential and make informed decisions regarding their investments.
