The Goldman Sachs Group Raises Clear Secure (NYSE:YOU) Price Target to $31.00

Clear Secure (NYSE:YOU) had its price objective raised by The Goldman Sachs Group from $27.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

YOU has been the subject of a number of other reports. Wedbush reaffirmed a neutral rating and set a $21.00 price objective on shares of Clear Secure in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a buy rating and set a $40.00 price objective on shares of Clear Secure in a research report on Wednesday. Finally, Telsey Advisory Group reaffirmed an outperform rating and set a $34.00 price objective on shares of Clear Secure in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Clear Secure has an average rating of Hold and a consensus target price of $29.20.

Clear Secure Stock Performance

YOU traded up $0.31 during trading on Thursday, reaching $25.85. 2,451,328 shares of the stock were exchanged, compared to its average volume of 1,523,698. The stock has a market cap of $3.74 billion, a P/E ratio of 46.16 and a beta of 1.58. Clear Secure has a twelve month low of $15.28 and a twelve month high of $25.89. The stock’s 50 day moving average price is $19.51 and its two-hundred day moving average price is $19.08.

Clear Secure (NYSE:YOU) last issued its earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $186.75 million for the quarter, compared to the consensus estimate of $183.78 million. Clear Secure had a net margin of 10.36% and a return on equity of 32.01%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 earnings per share. Equities research analysts predict that Clear Secure will post 0.82 earnings per share for the current fiscal year.

Clear Secure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th will be given a $0.10 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.55%. Clear Secure’s payout ratio is presently 71.43%.

Insider Activity

In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total value of $165,600.00. Following the completion of the sale, the insider now owns 34,227 shares of the company’s stock, valued at $755,732.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total value of $165,600.00. Following the completion of the sale, the insider now owns 34,227 shares of the company’s stock, valued at $755,732.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Dennis W. Liu sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $25.03, for a total transaction of $37,545.00. Following the completion of the sale, the chief accounting officer now directly owns 10,211 shares of the company’s stock, valued at approximately $255,581.33. The disclosure for this sale can be found here. 37.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Clear Secure by 11.7% in the first quarter. Vanguard Group Inc. now owns 10,571,993 shares of the company’s stock valued at $224,866,000 after purchasing an additional 1,111,330 shares in the last quarter. Brown Advisory Inc. raised its stake in Clear Secure by 3.2% in the fourth quarter. Brown Advisory Inc. now owns 3,230,815 shares of the company’s stock valued at $66,716,000 after purchasing an additional 101,011 shares in the last quarter. Renaissance Technologies LLC raised its stake in Clear Secure by 56.5% in the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock valued at $55,271,000 after purchasing an additional 1,066,400 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in Clear Secure by 303.6% in the second quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock valued at $22,445,000 after purchasing an additional 902,436 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Clear Secure by 184.9% in the first quarter. Janney Montgomery Scott LLC now owns 1,071,486 shares of the company’s stock valued at $22,791,000 after purchasing an additional 695,418 shares in the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

About Clear Secure

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.