TD Cowen Reiterates Buy Rating on GoodRx Holdings Inc. (GDRX)
TD Cowen analyst Charles Rhyee reiterated a Buy rating and $14.00 price target on GoodRx Holdings Inc. (NASDAQ: GDRX)
The analyst comments "We update our model following 1Q24 results, where mgmt. raised its 2024 guidance for revenue to $800-$810M (from ~$800M) and adj. EBITDA to >$250M (from ~$250M). We now est. 2024 rev of $813M and adj. EBITDA of $258M, an increase from $809M and $253M, which reflects continued growth in PTR revenue, in particular ramping ISP contribution, solid Pharma Man. Sol. growth and an improved 1Q24 gross margin profile (est. 2024 GM of 93.2% vs. prior est. of 92.0%). For 2025, we now estimate revenue of $930M and adj. EBITDA of $336M, which reflects continued growth across all businesses on top of a largely fixed OpEx structure."
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Shares of GoodRx Holdings Inc. closed at $7.61 yesterday.