01:00 PM EDT, 05/09/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our 12-month target price by $1 to $8, reflecting an EV of 12.3x our 2025 EBITDA estimate, a discount to GDRX's historical average due to a lower growth rate. Q1 EPS of $0.08 vs. $0.07 was in line with consensus. We raise our 2024 EPS estimate to $0.37 from $0.30 and 2025's to $0.45 from $0.38. Sales of $198M slightly exceeded our expectation driven by higher Monthly Active Consumers (+10% Y/Y) due to the expansion of GDRX's integrated savings program, partially offset by an increase in consumer discounts. Shares are down today (-9%) due to GDRX reducing its 2024 sales guidance by $25 million to a $800 million-$810 million range. The reduction is the result of GDRX's de-prioritization of vitaCare, the anticipated sunset of the Kroger Savings Club, higher consumer incentives, and the Change Healthcare outage. Even with this new outlook, we still anticipate sales will accelerate to the 5%-6% range Y/Y, vs. a 2% contraction last year and 3% growth the year prior, and we see margins trending upward.