GoodRx Holdings Inc. (GDRX) PT Raised to $50 at Credit Suisse After Earnings

March 15, 2021 7:53 AM EDT
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Price: $38.08 -2.36%

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Credit Suisse analyst Jailendra Singh raised the price target on GoodRx Holdings Inc. (NASDAQ: GDRX) to $50.00 (from $49.00) on 20x (unchanged) the updated 2022 revenue estimate. On the call, management stated it has not seen any adverse impact subsequent to the Amazon Pharmacy and Prime Rx announcement back in November. Instead, the Amazon moves have served to drive pharmacies closer together and the PBMs as well (i.e. other than Express Scripts).

The analyst reiterated an Outperform rating, stating "On the pharmacy side, GoodRx has seen Amazon drive
incremental partnerships that GoodRx is doing with pharmacies. While the weaker cold/flu season this year has resulted little impact, the momentum in the number of partnerships shows the intent that pharmacies have to partner with GoodRx more. On the PBM side, GoodRx has continued looking for better rates given the receptivity PBMs have in GoodRx being able to drive incremental volume and revenue."

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