MediaAlpha (NYSE:MAX) Price Target Lowered to $26.00 at Canaccord Genuity Group

On February 25, 2025, Canaccord Genuity Group announced a reduction in the target price for MediaAlpha (NYSE:MAX) from $30.00 to $26.00 in its latest research report. Despite the decrease in price target, Canaccord Genuity has maintained a buy rating on the stock.

In addition to Canaccord Genuity, several other investment firms have also recently revised their target prices for MediaAlpha. On January 14, 2025, the Goldman Sachs Group lowered its target price from $26.00 to $23.00, while keeping a buy rating on the stock. The Royal Bank of Canada also decreased its price objective on December 4, 2024, from $23.00 to $20.00, assigning an outperform rating. Keefe, Bruyette & Woods adjusted their price target on December 11, 2024, lowering it from $26.00 to $22.00 while upholding an outperform rating. Furthermore, on January 10, 2025, JPMorgan Chase & Co. reduced their target price significantly from $25.00 to $15.00 and gave the stock an overweight rating. Currently, one analyst has issued a hold rating for MediaAlpha, while six have assigned a buy rating.

According to MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” from analysts, with an average price target set at $21.00.

MediaAlpha Trading Activity

On the trading day following the announcement, MAX stock opened at $11.45. It has a market capitalization of approximately $763.26 million and a price-to-earnings (P/E) ratio of 67.35. The stock's beta stands at 1.12, indicating some volatility. Over the past year, MediaAlpha's shares reached a low of $10.21 and a high of $25.78. The company’s 50-day moving average is $11.54, while the 200-day moving average is $14.35.

The latest quarterly earnings report from MediaAlpha was released on February 24, 2025. The company reported earnings of $0.08 per share, falling short of analysts' consensus estimate of $0.24 by $0.16. MediaAlpha reported a negative return on equity of 11.98% and a net margin of 1.41%. Analysts forecast that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Investors' Activity

There has been notable activity among institutional investors with respect to MediaAlpha's shares. Geode Capital Management LLC increased its holdings by 28.9% in the third quarter, now owning 690,574 shares of MediaAlpha worth about $12.5 million after buying 154,637 additional shares. Barclays PLC raised its stake in the company by an impressive 423.2% during the same quarter, acquiring 66,525 shares valued at $1.2 million. Other investors, such as GSA Capital Partners LLP and JPMorgan Chase & Co., also acquired new positions in MediaAlpha or significantly increased their existing stakes. Currently, hedge funds and other institutional investors own approximately 64.39% of MediaAlpha's stock.

About MediaAlpha

MediaAlpha, Inc., through its subsidiaries, operates an insurance customer acquisition platform in the United States. The company specializes in optimizing customer acquisition in various sectors including property and casualty insurance, health insurance, and life insurance. Founded in 2014, MediaAlpha is headquartered in Los Angeles, California.

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