5 Best Low-Cost Tech Stocks to Buy Right Now

4. GoodRx Holdings, Inc. (NASDAQ:GDRX)

Number of Hedge Fund Holders: 26
Share Price as of November 26: $36.82

GoodRx Holdings, Inc. (NASDAQ:GDRX) is a modern tech company that operates a telemedicine platform. Recently, the company was picked by UBS as one of its best stocks in the Healthtech sector. The firm expects a 30% growth in the company’s core prescription drug business in the next three years.

In Q3, GoodRx Holdings, Inc. (NASDAQ:GDRX) reported $195.1 million in revenue, beating the estimates by $0.55 million. Following the company’s strong revenue, Barclays lifted its price target on the stock to $47, while maintaining an Overweight rating on the shares.

At the end of Q3, 26 hedge funds in Insider Monkey’s database reported owning stakes in GoodRx Holdings, Inc. (NASDAQ:GDRX), down from 28 in the previous quarter. The total value of these stakes is over $1 billion, compared with $635.9 million in Q2 2021.

Baron Funds mentioned GoodRx Holdings, Inc. (NASDAQ:GDRX) in its Q3 2021 investor letter. Here is what the asset management firm has to say:

“We initiated a position in GoodRx Holdings, Inc., a leading consumerfocused digital health care platform. The company’s core offering is a free App that provides consumers with access to discounts on prescription medications. This increases medication adherence since GoodRx’s discounted prices enable consumers to afford to fill their prescriptions, resulting in better health care outcomes and lower costs to the health care system. GoodRx generates revenue each time the consumer uses the GoodRx discount card for a new or refilled prescription. As GoodRx attracts more consumers to its platform, the company increases its scale, which enables it to negotiate lower prices, which attracts more consumers. GoodRx has a growing subscription business where consumers pay monthly subscription fees to access even lower drug prices. The subscription business increases GoodRx’s revenue visibility and customer lifetime value. GoodRx has a strong brand with exceptionally high Net Promoter Scores among consumers and health care providers. With 20 million monthly visitors, GoodRx has a valuable platform that it is monetizing by adding new products and services. Recent examples include its telehealth offering, pharmaceutical manufacturer solutions business, and proprietary health care content, which should help solidify GoodRx’s positioning as the go-to health care platform for consumers. GoodRx is profitable and growing rapidly with strong margins and cash flows.”