MediaAlpha, Inc. (NYSE:MAX) Receives $24.29 Average Price Target from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $24.29.

A number of analysts have commented on the stock. TD Cowen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th. Royal Bank of Canada boosted their target price on MediaAlpha from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price target (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group began coverage on MediaAlpha in a research note on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price objective on the stock.

MediaAlpha Trading Up 1.4 %

Shares of NYSE MAX opened at $17.73 on Friday. MediaAlpha has a 12-month low of $7.70 and a 12-month high of $25.78. The company has a market cap of $1.17 billion, a PE ratio of -26.09 and a beta of 1.22. The stock has a 50 day simple moving average of $16.13 and a 200-day simple moving average of $17.52.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. During the same period in the previous year, the company posted ($0.32) EPS. The company’s revenue for the quarter was up 110.3% compared to the same quarter last year. Sell-side analysts forecast that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently made changes to their positions in MAX. Point72 DIFC Ltd purchased a new position in MediaAlpha during the 2nd quarter worth approximately $65,000. Sandia Investment Management LP acquired a new position in MediaAlpha during the second quarter valued at $79,000. EntryPoint Capital LLC purchased a new stake in MediaAlpha in the 1st quarter worth about $136,000. Lazard Asset Management LLC acquired a new stake in MediaAlpha during the 1st quarter worth about $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.