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Vandana Singh

GoodRx Plunges As Q4 Fall Short Of Expectations, Analysts Cut Price Target

Consumer-focused digital healthcare, GoodRx Holdings Inc (NASDAQ:GDRX) shares are plunging after the company's Q4 FY21 earnings came in below expectations.

  • Several analysts have downgraded the stock with reduced price targets in reaction to the earnings.
  • SVB Leerink maintains GoodRx with an Outperform and lowers the price target from $49 to $33.
  • Goldman Sachs maintains GoodRx with a Buy with a price target of $30, down from $43.
  • RBC Capital maintains GoodRx with an Outperform and price target lowered from $50 to $35.
  • Cowen & Co analyst downgrades GoodRx from Outperform to Market Perform and price target cut from $49 to $22.
  • Barclays has lowered the price target to $35 from $43 and keeps an Overweight rating on the shares following the "softer" 2022 guidance. 
  • The management cited a longer than anticipated and more cumulative impact from Covid as the driver behind revenue momentum slowing throughout Q4 and into January, notes analyst Steve Valiquette.
  • GoodRx reported Q4 FY21 sales of $213.3 million +39% Y/Y but missed the consensus of $217.46 million.
  • It reported Q4 EPS of $0.09, below the consensus of $0.10.
  • For Q1 FY22, GoodRx expects sales of ~$200 million versus the consensus of $227.92 million.
  • For FY22, the company forecasts sales growth of ~23%, equivalent to ~$916.8 million, compared to the consensus of $1.02 billion.
  • Price Action: GDRX shares are down 38.4% at $16.89 during the market session on the last check Tuesday.
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