GoodRx Holdings Inc. (NASDAQ:GDRX) marked $6.00 per share on Tuesday, down from a previous closing price of $6.01. While GoodRx Holdings Inc. has underperformed by -0.17%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, GDRX fell by -69.51%, with highs and lows ranging from $20.59 to $3.82, whereas the simple moving average jumped by 6.31% 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 -13.70%, showing a negative trend in the upcoming months.
In order to gain a clear picture of GoodRx Holdings Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -4.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 12.10, 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.
An average volume of 1.71M can be a very valuable indicator of volatility for GDRX stock. On a monthly basis, the volatility of the stock is set at 5.05%, whereas on a weekly basis, it is put at 4.80%, with a gain of 1.69% over the past seven days. Furthermore, long-term investors anticipate a median target price of $6.93, showing growth from the present price of $6.00, 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?
In addition to the fundamentals, you should also consider how many employees own shares in the company. 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 7.25% in the first quarter. The company now owns 8,318,305 shares of the stock, with a value of $44.0 million, following the purchase of 562,490 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 151.29%. During the last quarter, the company dropped down 3,202,061 additional shares for a total stake of worth $28.14 million, bringing number of shares owned by the company to 5,318,603.
During the first quarter, Marshall Wace LLP subtracted a -350,301 position in GDRX. Petrus Securities LP purchased an additional 0.28 million shares in the last quarter, increasing its holdings by 12.89%, now holding 2.44 million shares worth $12.92 million. At the end of the first quarter, Renaissance Technologies LLC decreased its GDRX holdings by -14.15% and now holds 1.91 million GDRX shares valued at $10.09 million with the lessened -0.31 million shares during the period. GDRX shares are owned by institutional investors to the tune of 69.50% at present.
