MediaAlpha (NYSE:MAX) Now Covered by The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group assumed coverage on shares of MediaAlpha (NYSE:MAX) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 16.82% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group increased their price target on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and cut their price target for the company from $19.00 to $13.00 in a report on Wednesday, June 26th. Finally, Royal Bank of Canada increased their price target on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.29.

MediaAlpha Stock Performance

Shares of MAX opened at $17.12 on Tuesday. The stock has a market cap of $1.13 billion, a PE ratio of -25.18 and a beta of 1.20. MediaAlpha has a fifty-two week low of $7.62 and a fifty-two week high of $25.78. The firm’s 50-day simple moving average is $14.90 and its two-hundred day simple moving average is $17.46.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $178.27 million during the quarter, compared to analysts’ expectations of $151.40 million. During the same quarter last year, the company posted ($0.32) EPS. MediaAlpha’s revenue for the quarter was up 110.3% compared to the same quarter last year. Equities research analysts predict that MediaAlpha will post 0.13 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC bought a new position in MediaAlpha in the first quarter worth approximately $22,181,000. Driehaus Capital Management LLC raised its position in MediaAlpha by 208.4% in the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after acquiring an additional 970,840 shares during the period. Divisadero Street Capital Management LP bought a new position in MediaAlpha in the second quarter worth approximately $7,956,000. Emerald Advisers LLC raised its position in MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after acquiring an additional 597,355 shares during the period. Finally, Clearline Capital LP raised its position in MediaAlpha by 1,255.3% in the second quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock worth $7,596,000 after acquiring an additional 534,176 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

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.