Needham & Company LLC Reiterates Buy Rating for Clear Secure (NYSE:YOU)

Clear Secure (NYSE:YOU)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They presently have a $40.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 107.04% from the company’s current price.

Other equities analysts have also issued reports about the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $34.00 target price on shares of Clear Secure in a research report on Monday. TheStreet raised Clear Secure from a “d+” rating to a “c-” rating in a report on Friday, December 22nd. Wedbush reiterated a “neutral” rating and issued a $23.00 price objective on shares of Clear Secure in a research report on Wednesday, February 28th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $20.00 target price on shares of Clear Secure in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Clear Secure presently has an average rating of “Hold” and a consensus target price of $28.80.

Clear Secure Trading Up 0.2 %

NYSE YOU traded up $0.03 during trading hours on Friday, reaching $19.32. 1,077,567 shares of the company’s stock were exchanged, compared to its average volume of 1,551,720. The firm has a fifty day moving average of $19.76 and a 200-day moving average of $19.76. Clear Secure has a one year low of $15.28 and a one year high of $27.93. The stock has a market cap of $3.07 billion, a PE ratio of 64.40 and a beta of 1.52.

Clear Secure (NYSE:YOU) last announced its earnings results on Wednesday, February 28th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $170.97 million for the quarter, compared to analysts’ expectations of $166.56 million. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. As a group, research analysts forecast that Clear Secure will post 0.37 EPS for the current year.

Insider Transactions at Clear Secure

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the completion of the sale, the insider now owns 41,727 shares in the company, valued at approximately $834,540. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 39.94% of the company’s stock.

Institutional Trading of Clear Secure

A number of large investors have recently bought and sold shares of YOU. Durable Capital Partners LP lifted its holdings in shares of Clear Secure by 25.5% in the first quarter. Durable Capital Partners LP now owns 10,751,370 shares of the company’s stock valued at $288,997,000 after purchasing an additional 2,184,428 shares in the last quarter. Vanguard Group Inc. lifted its stake in Clear Secure by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 9,460,663 shares of the company’s stock valued at $195,363,000 after acquiring an additional 211,214 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Clear Secure by 31.5% in the 2nd quarter. BlackRock Inc. now owns 7,086,010 shares of the company’s stock valued at $164,183,000 after purchasing an additional 1,696,921 shares during the period. FMR LLC grew its holdings in Clear Secure by 28.7% during the third quarter. FMR LLC now owns 3,641,892 shares of the company’s stock worth $69,342,000 after purchasing an additional 811,586 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Clear Secure by 86.3% in the second quarter. Goldman Sachs Group Inc. now owns 3,260,048 shares of the company’s stock valued at $75,535,000 after buying an additional 1,510,168 shares during the period. 64.13% of the stock is owned by institutional investors.

Clear Secure Company Profile

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.