---
title: "Analyst Reiterates Buy on MediaAlpha as P&C Rebound Drives 17% Revenue Growth and Undervalued 2026 EV/EBITDA Multiple"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284822403.md"
description: "William Blair analyst Adam Klauber has reiterated a Buy rating on MediaAlpha (MAX) stock, citing a 17% revenue growth driven by a rebound in property-and-casualty (P&C) insurance. P&C revenue surged 31%, contributing significantly to total sales. Despite some weakness in the health segment, adjusted EBITDA exceeded forecasts. Management's guidance for continued high-teens revenue growth and a projected 2026 EV/EBITDA multiple of around 5x suggests attractive upside for investors. J.P. Morgan also maintains a Buy rating with a $12.00 price target."
datetime: "2026-04-30T19:05:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284822403.md)
  - [en](https://longbridge.com/en/news/284822403.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284822403.md)
---

# Analyst Reiterates Buy on MediaAlpha as P&C Rebound Drives 17% Revenue Growth and Undervalued 2026 EV/EBITDA Multiple

William Blair analyst Adam Klauber has maintained their bullish stance on MAX stock, giving a Buy rating today.

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Adam Klauber has given his Buy rating due to a combination of factors, including MediaAlpha’s strong top-line performance and favorable segment mix. The company’s revenue advanced 17%, surpassing his projection, largely because property-and-casualty carriers are aggressively pursuing growth again, which drove a 31% increase in P&C revenue and lifted that line to the vast majority of total sales.

He acknowledges softness in the health segment but notes that profitability remained solid, with adjusted EBITDA slightly above his forecast despite somewhat higher operating costs. Management’s guidance for continued high-teens revenue growth, reiterated robust free-cash-flow targets, and the prospect of ongoing double-digit earnings compounding support his view that the current valuation—around 5x projected 2026 EV/EBITDA—offers attractive upside for investors.

In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $12.00 price target.

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