Needham & Company LLC Forecasts Strong Price Appreciation for First Advantage (NYSE:FA) Stock

Key Points

• Needham & Company raised its price target for First Advantage from $28 to $30 and maintained a Buy rating, implying 29.7% upside from the prior close.
• Analyst views are mixed: MarketBeat reports an average Hold rating and $24 average target, while other firms issued ratings ranging from Buy to Hold.
• First Advantage beat quarterly earnings estimates, reporting EPS of $0.38 versus $0.34 expected, while revenue increased 13.8% year over year.

First Advantage (NYSE:FA - Get Free Report) had its target price boosted by investment analysts at Needham & Company LLC from $28.00 to $30.00 in a research report issued on Friday, Marketbeat reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 29.70% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. Zacks Research cut shares of First Advantage from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Citigroup upped their price target on shares of First Advantage from $18.00 to $22.00 and gave the company a "neutral" rating in a research report on Monday, August 17th. Royal Bank Of Canada upped their price target on shares of First Advantage from $21.00 to $24.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. Barclays raised their price objective on First Advantage from $20.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $26.00 price objective on shares of First Advantage in a report on Friday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.00.

First Advantage Stock Up 2.9%

Shares of NYSE FA opened at $23.13 on Friday. First Advantage has a one year low of $8.82 and a one year high of $25.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.85 and a quick ratio of 3.85. The firm's 50 day simple moving average is $20.24 and its two-hundred day simple moving average is $16.50. The stock has a market capitalization of $3.97 billion, a P/E ratio of 771.00 and a beta of 1.12.

First Advantage (NYSE:FA - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. First Advantage had a net margin of 0.65% and a return on equity of 13.16%. During the same period last year, the business posted $0.30 earnings per share. The company's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts expect that First Advantage will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in First Advantage in the 2nd quarter worth $217,748,000. Bamco Inc. NY purchased a new stake in shares of First Advantage in the 2nd quarter worth about $63,214,000. Sunriver Management LLC lifted its position in shares of First Advantage by 14.0% in the 1st quarter. Sunriver Management LLC now owns 3,032,711 shares of the company's stock worth $35,665,000 after purchasing an additional 371,425 shares during the period. Palisade Capital Management LP bought a new stake in shares of First Advantage during the 2nd quarter valued at about $14,533,000. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of First Advantage by 22.8% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 728,332 shares of the company's stock valued at $8,565,000 after purchasing an additional 135,418 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

About First Advantage

First Advantage Corporation NYSE: FA is a global human capital and background screening company that helps employers make informed hiring, onboarding and workforce-management decisions. Its technology and services are used by organizations across industries to assess candidates and support compliance throughout the employment lifecycle.

The company provides employment background checks, criminal-record searches, employment and education verification, identity services, drug and health screening, driving-record checks, international screening and continuous workforce monitoring.

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