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

Clear Secure (NYSE:YOU)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $45.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 68.73% from the company’s current price.

A number of other research analysts have also recently commented on YOU. Wedbush reaffirmed a “neutral” rating and set a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective 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, 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, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.67.

Clear Secure Stock Up 2.7 %

Shares of Clear Secure stock opened at $26.67 on Monday. The company has a market cap of $3.72 billion, a PE ratio of 31.01 and a beta of 1.43. Clear Secure has a 52 week low of $16.05 and a 52 week high of $38.88. The business has a 50 day moving average price of $30.63 and a 200-day moving average price of $26.64.

Clear Secure (NYSE:YOU) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. During the same quarter last year, the business posted $0.20 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. As a group, research analysts anticipate that Clear Secure will post 0.98 EPS for the current year.

Insider Activity

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of Clear Secure stock in a transaction on Friday, October 11th. The shares were sold at an average price of $34.08, for a total value of $5,112,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 37.85% of the company’s stock.

Institutional Trading of Clear Secure

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in shares of Clear Secure in the third quarter worth about $62,950,000. FMR LLC grew its position in shares of Clear Secure by 30.6% in the 3rd quarter. FMR LLC now owns 6,598,424 shares of the company’s stock worth $218,672,000 after buying an additional 1,547,692 shares during the last quarter. State Street Corp increased its stake in shares of Clear Secure by 64.1% during the third quarter. State Street Corp now owns 3,360,945 shares of the company’s stock valued at $111,381,000 after buying an additional 1,312,419 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Clear Secure by 56.5% during the second quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock valued at $55,271,000 after acquiring an additional 1,066,400 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted 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 worth $22,445,000 after acquiring an additional 902,436 shares during the period. Hedge funds and other institutional investors 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.