Clear Secure’s (YOU) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Clear Secure (NYSE:YOU) in a report published on Tuesday morning, Benzinga reports. They currently have a $40.00 price target on the stock.

A number of other equities analysts have also recently weighed in on YOU. Wedbush reissued a neutral rating and set a $23.00 price target on shares of Clear Secure in a research report on Wednesday, February 28th. Wells Fargo & Company restated an underweight rating and set a $20.00 target price on shares of Clear Secure in a report on Wednesday, December 20th. Telsey Advisory Group reaffirmed an outperform rating and set a $34.00 price target on shares of Clear Secure in a research report on Tuesday. Finally, TheStreet upgraded Clear Secure from a d+ rating to a c- rating in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $28.80.

Clear Secure Price Performance

Shares of Clear Secure stock opened at $21.27 on Tuesday. The firm has a market capitalization of $3.38 billion, a PE ratio of 70.90 and a beta of 1.52. Clear Secure has a 52-week low of $15.28 and a 52-week high of $27.93. The company’s fifty day moving average price is $19.53 and its two-hundred day moving average price is $19.70.

Clear Secure (NYSE:YOU) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $170.97 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) EPS. Analysts predict that Clear Secure will post 0.37 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The company also recently announced a None dividend, which will be paid on Monday, April 8th. Investors of record on Monday, April 1st will be issued a $0.32 dividend. This is a positive change from Clear Secure’s previous None dividend of $0.25. The ex-dividend date is Thursday, March 28th. Clear Secure’s payout ratio is presently 120.00%.

Insider Buying and Selling at Clear Secure

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 39.94% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

A number of hedge funds have recently made changes to their positions in the business. Durable Capital Partners LP increased its position in shares of Clear Secure by 25.5% during the first quarter. Durable Capital Partners LP now owns 10,751,370 shares of the company’s stock valued at $288,997,000 after buying an additional 2,184,428 shares during the period. Vanguard Group Inc. lifted its stake in Clear Secure by 143.5% in the 1st quarter. Vanguard Group Inc. now owns 3,258,957 shares of the company’s stock worth $87,601,000 after purchasing an additional 1,920,329 shares in the last quarter. BlackRock Inc. grew its position in shares of Clear Secure by 31.5% during 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Clear Secure by 86.3% in the second quarter. Goldman Sachs Group Inc. now owns 3,260,048 shares of the company’s stock worth $75,535,000 after purchasing an additional 1,510,168 shares during the period. Finally, State Street Corp raised its position in shares of Clear Secure by 606.0% in the second quarter. State Street Corp now owns 1,007,168 shares of the company’s stock worth $20,143,000 after buying an additional 864,515 shares in the last quarter. 73.80% of the stock is currently 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.