Clear Secure’s (YOU) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clear Secure (NYSE:YOU) in a research note published on Friday morning, Benzinga reports. They currently have a $45.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the stock. Telsey Advisory Group increased their target price on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus boosted their price target on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.83.

Clear Secure Stock Up 0.2 %

Shares of Clear Secure stock opened at $36.84 on Friday. The stock has a market cap of $5.13 billion, a PE ratio of 47.23 and a beta of 1.63. Clear Secure has a 12 month low of $16.05 and a 12 month high of $38.04. The business has a fifty day simple moving average of $32.71 and a 200-day simple moving average of $24.33.

Clear Secure (NYSE:YOU) last released its earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The company had revenue of $186.75 million for the quarter, compared to analysts’ expectations of $183.78 million. Clear Secure had a return on equity of 35.33% and a net margin of 10.36%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. Analysts expect that Clear Secure will post 1.01 EPS for the current fiscal year.

Clear Secure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.125 per share. This is an increase from Clear Secure’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, December 10th. This represents a $0.50 annualized dividend and a yield of 1.36%. Clear Secure’s dividend payout ratio is presently 64.10%.

Insiders Place Their Bets

In other news, CAO Dennis W. Liu sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $25.03, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction, the chief accounting officer now owns 10,211 shares in the company, valued at approximately $255,581.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard N. Jr. Patterson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total transaction of $165,600.00. Following the transaction, the insider now directly owns 34,227 shares of the company’s stock, valued at $755,732.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,173,935 shares of company stock valued at $36,826,532 in the last three months. Company insiders own 37.85% of the company’s stock.

Institutional Trading of Clear Secure

A number of institutional investors and hedge funds have recently modified their holdings of YOU. Essex Savings Bank acquired a new stake in Clear Secure during the third quarter worth $348,000. CWA Asset Management Group LLC acquired a new position in Clear Secure in the third quarter worth about $795,000. Capital Performance Advisors LLP acquired a new position in Clear Secure in the third quarter worth about $26,000. Principal Financial Group Inc. lifted its position in shares of Clear Secure by 3,937.1% during the 3rd quarter. Principal Financial Group Inc. now owns 478,760 shares of the company’s stock worth $15,866,000 after buying an additional 466,901 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Clear Secure by 844.2% during the third quarter. Amalgamated Bank now owns 26,826 shares of the company’s stock valued at $889,000 after acquiring an additional 23,985 shares during the period. 73.80% of the stock is currently owned by institutional investors.

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.