The share price of GoodRx Holdings Inc. (NASDAQ:GDRX) fell to $5.21 per share on Tuesday from $5.63. While GoodRx Holdings Inc. has underperformed by -7.46%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, GDRX fell by -77.84%, with highs and lows ranging from $30.89 to $3.82, whereas the simple moving average fell by -26.44% in the last 200 days.
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On December 01, 2022, Citigroup started tracking GoodRx Holdings Inc. (NASDAQ: GDRX) recommending Buy. A report published by JP Morgan on November 04, 2022, Upgraded its rating to ‘Neutral’ for GDRX. Truist Initiated an Hold rating on September 07, 2022, and assigned a price target of $6.50. DA Davidson initiated its ‘Neutral’ rating for GDRX, as published in its report on August 12, 2022. Goldman’s report from June 10, 2022 suggests a price prediction of $9 for GDRX shares, giving the stock a ‘Neutral’ rating. BofA Securities also rated the stock as ‘Buy’.
Analysis of GoodRx Holdings Inc. (GDRX)
Further, the quarter-over-quarter decrease in sales is -4.00%, showing a negative trend in the upcoming months.
To gain a thorough understanding of GoodRx Holdings Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -8.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 10.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and GDRX is recording an average volume of 1.76M. On a monthly basis, the volatility of the stock is set at 5.31%, whereas on a weekly basis, it is put at 5.78%, with a loss of -2.98% over the past seven days. Furthermore, long-term investors anticipate a median target price of $6.96, showing growth from the present price of $5.21, which can serve as yet another indication of whether GDRX is worth investing in or should be passed over.
How Do You Analyze GoodRx Holdings Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.80%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 69.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in GDRX shares?
The recent increase in stakes in GDRX appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in GDRX has increased by 10.53% in the first quarter. The company now owns 7,757,523 shares of the stock, with a value of $36.15 million, following the purchase of 739,017 additional shares during the last quarter. Millennium Management LLC made another increased to its shares in GDRX during the first quarter, upping its stake by 107.72%. During the last quarter, the company dropped down 2,279,989 additional shares for a total stake of worth $20.49 million, bringing number of shares owned by the company to 4,396,531.
During the first quarter, Light Street Capital Management L subtracted a -437,404 position in GDRX. Marshall Wace LLP purchased an additional 55218.0 shares in the last quarter, increasing its holdings by 1.55%, now holding 3.62 million shares worth $16.88 million. At the end of the first quarter, Renaissance Technologies LLC decreased its GDRX holdings by -31.55% and now holds 2.22 million GDRX shares valued at $10.35 million with the lessened -1.02 million shares during the period. GDRX shares are owned by institutional investors to the tune of 69.50% at present.
