Why GoodRx Holdings Stock Suddenly Jumped This Afternoon

The morning started quietly for GoodRx Holdings (NASDAQ: GDRX), with shares fluctuating from slightly down to modestly up. Then an analyst with Hedgeye said it had 50% upside, causing the stock to suddenly jump. While it's still down about 25% from highs reached in October, it gained back ground today. As of 3:20 p.m. EST, GoodRx stock was up 10%.

Hedgeye analyst Tom Tobin thinks GoodRx stock has 50% upside, according to Bloomberg. Tobin noted how the company beat expectations when it reported earnings for the third quarter of 2020. He also believes that investors will rekindle their excitement for the company's long-term prospects, helping the stock regain previous highs.

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Source Fool.com