These Analysts Increase Their Forecasts On GoodRx Following Q4 Earnings
Portfolio Pulse from Avi Kapoor
GoodRx Holdings, Inc. (NASDAQ:GDRX) reported higher than expected Q4 FY23 results, with a 7% Y/Y increase in revenue to $196.6 million and adjusted EBITDA rising to $57.3 million. The company also announced a new $450 million stock repurchase program and provided FY24 revenue guidance above consensus. Following the earnings report, analysts from Barclays, JP Morgan, and TD Cowen raised their price targets on GoodRx shares, which surged 20.4% to close at $7.79.
March 01, 2024 | 1:23 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
GoodRx reported strong Q4 FY23 results, announced a $450 million stock repurchase program, and provided optimistic FY24 guidance. Analysts upgraded their price targets, leading to a 20.4% increase in share price.
The positive earnings report, coupled with the announcement of a significant stock repurchase program and higher than expected FY24 revenue guidance, has led to a positive reaction from analysts and a substantial increase in the stock price. The upgrades from analysts further validate the company's strong performance and outlook, likely contributing to investor confidence and the short-term upward movement in the stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100