Optimist Fund on First Advantage Corporation

First Advantage delivered organic revenue growth of 9%, EBITDA growth of 14% and adjusted EPS growth of 52% year over year, with all three metrics beating expectations. Management reiterated full-year guidance. Although the shares rebounded materially from their lows, the fund says its underlying view has not changed with the higher price. It believes the stock can be worth at least $80 in five years.