MediaAlpha, Inc. (NYSE:NAX) reported better than expected Q4 results, with a GAAP loss of 5 cents per share against estimates of 18 cents and sales of $117.17 million versus estimates of $111.52 million. The company attributes the success to its Property & Casualty insurance vertical and anticipates Q1 Transaction Value to nearly double sequentially. MediaAlpha forecasts Q1 2024 revenue between $105 million and $115 million, with adjusted EBITDA between $9.5 million and $11.5 million. Following the report, shares surged 22.7% to $19.38. Analysts from Canaccord Genuity and RBC Capital raised their price targets on MediaAlpha.