UPDATE: JPMorgan Upgrades MediaAlpha (MAX) to Overweight

April 23, 2021 4:27 AM EDT
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Price: $33.15 -0.9%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 27 | New: 42
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(Updated - April 23, 2021 5:03 AM EDT)

JPMorgan analyst Cory Carpenter upgraded MediaAlpha (NYSE: MAX) from Neutral to Overweight with a price target of $50.00.

The analyst comments "MediaAlpha is one of the largest online customer acquisition platforms in the insurance industry, with its tech platform facilitating 5M+ monthly consumer referrals across 1,000+ partners largely in P&C, Health, and Life insurance verticals. We believe MAX is well positioned for multiple years of sustained 20%+ top-line growth, driven by the shift of customer acquisition spend online in the insurance industry (+23% CAGR from 2020-25E), MAX’s differentiated B2B go-to-market strategy, strong insurance carrier relationships, and deep data integrations. MAX has been profitable since its third month and converts ~60%+ of Contribution into EBITDA."

For an analyst ratings summary and ratings history on MediaAlpha click here. For more ratings news on MediaAlpha click here.

Shares of MediaAlpha closed at $34.50 yesterday.

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