Why GoodRx Tanked by 29.5% in March
Shares of GoodRx (NASDAQ: GDRX) plunged 29.5% in March, according to S&P Global Market Intelligence. The online pharmaceutical service and telehealth platform posted disappointing fourth-quarter earnings results at the end of February and offered poor guidance for 2022. However, toward the end of the month, as growth stocks broadly bounced back, GoodRx recovered a portion of its declines.
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On Feb. 28, GoodRx reported its Q4 and full-year earnings results. Revenue grew 38.9% year over year in the quarter to $213.3 million. While that was a solid growth rate, it undershot analysts' consensus estimate for $217.5 million in revenue. For 2022, management is guiding for revenue growth of 23% to around $917 million. That widely missed analysts' estimates; the consensus forecast had been for revenue of $963 million in 2022.
Source Fool.com
