Why GoodRX Shares Are Plummeting Today

GoodRx Holdings Inc GDRX is plunging Tuesday after the company reported worse-than-expected fourth-quarter financial results and issued guidance below estimates. 

GoodRx said revenue increased 39% year-over-year to $213.3 million, which came in below the $217.46 million estimate. The company reported quarterly earnings of 9 cents per share, which came in below the estimate of 10 cents per share. 

GoodRX also announced a $250 million share repurchase program. 

"We see significant opportunities to build on our 2021 growth and success to deliver a very strong 2022, reaching more consumers and providers and bringing more value to each stage of the healthcare journey," GoodRX said.

The company expects first-quarter revenue of about $200 million versus the $227.92 million estimate. 

Analyst Assessment: 

  • Credit Suisse analyst Jailendra Singh downgraded GoodRx from an Outperform rating to a Neutral rating and lowered the price target from $41 to $27.
  • Cowen & Co. analyst Charles Rhyee downgraded GoodRx from an Outperform rating to a Market Perform rating and lowered the price target from $49 to $22.
  • RBC Capital analyst Sean Dodge maintained GoodRx with an Outperform rating and lowered the price target from $50 to $35.
  • Goldman Sachs maintained GoodRx with a Buy rating and lowered the price target from $43 to $30.
  • SVB Leerink analyst Stephanie Davis maintained GoodRx with an Outperform rating and lowered the price target from $49 to $33.

GDRX Price Action: GoodRX has traded as high as $48.05 over a 52-week period. It's making new lows Tuesday.

The stock was down 40.8% at $16.21 at time of publication.

Photo: jarmoluk from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidancePrice TargetAnalyst RatingsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!