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GoodRx Rises Despite Weak Earnings, Forecast By Investing.com

© Reuters.

By Christiana Sciaudone

Investing.com — GoodRx rose 6% despite reporting earnings and guidance that missed the mark, if by a small margin.

Earnings per share of 7 cents missed expectations by a hair while sales of $160.4 million fell just short of the $160.5 million analysts had forecast, according to data compiled by Investing.com. Revenue for the year was estimated at $740 million to $760 million, below the consensus of $784.4 million, according to StreetInsider. On the slightly more positive side, sales for the second quarter are expected at $172 million to $176 million versus the forecast of $172.4 million. 

Shares of GoodRx have slipped more than 40% since the company went public in September. The threat of Amazon (NASDAQ:) has since reared its giant head in the world of healthcare, sending shivers down the spines of investors who fear that GoodRx could take a major hit from the rivalry.

Analysts from RBC Capital to Barclays (LON:) dropped the company’s price target following the first quarter results.

On Thursday, Bloomberg, citing people familiar with the situation, reported that GoodRx bought discount drug company RxSaver from Vericast Corp., controlled by billionaire Ronald Perelman. 

 

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