Wells says interim CEO news raises questions about GoodRx’s vision, momentum

Wells Fargo analyst Stan Berenshteyn thinks GoodRx’s announcement of an interim CEO, Scott Wagner, adds a layer of uncertainty regarding GoodRx evolving strategy and underlying business momentum that is unlikely to be crystallized until Q1 earnings release on May 10 at the earliest. The negative reaction in the shares suggests the market is reading the pivot to a new CEO as a cautionary view that visibility into improving fundamentals may be limited and that GoodRx’s go-to-market strategy and/or product portfolio is likely poised to see additional changes under new leadership, the firm argues. Wells has an Equal Weight rating on the shares with a price target of $6.