- GoodRX (GDRX, +8%) is rallying after Hedgeye analyst Tom Tobin put the stock on his Best Ideas list with as much as 50% upside.
- Tobin likes the total addressable market for the company and the consumer platform upside.
- “We see a path back to the previous highs on better than expected results and a revitalized belief in the GDRX platform narrative, or 30% to 50% higher from here,” Tobin says, according to Bloomberg.
- Before today's gains the stock had been down about 17% from mid-November after taking a hit with similar stocks after the launch of Amazon Pharmacy.
- CEO Doug Hirsh argued that "GoodRx is a marketplace, Amazon is a pharmacy... People perceive it as going head-to-head with us, but it’s not."