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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