Clear Secure (NYSE:YOU) Given “Buy” Rating at Needham & Company LLC

Clear Secure (NYSE:YOU)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $40.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 132.83% from the company’s previous close.

A number of other brokerages also recently weighed in on YOU. Telsey Advisory Group reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Clear Secure in a research report on Tuesday, March 26th. Wedbush reaffirmed a “neutral” rating and set a $21.00 target price on shares of Clear Secure in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Clear Secure presently has an average rating of “Hold” and a consensus target price of $28.40.

Clear Secure Stock Down 5.0 %

Clear Secure stock traded down $0.90 during mid-day trading on Wednesday, reaching $17.18. 6,560,409 shares of the company’s stock traded hands, compared to its average volume of 1,578,644. Clear Secure has a 12-month low of $15.28 and a 12-month high of $27.75. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 57.27 and a beta of 1.59. The stock has a 50 day moving average of $19.17 and a two-hundred day moving average of $19.73.

Clear Secure (NYSE:YOU) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The company had revenue of $170.97 million during the quarter, compared to analysts’ expectations of $166.56 million. During the same quarter in the previous year, the business earned ($0.12) EPS. Clear Secure’s revenue was up 33.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Clear Secure will post 0.54 earnings per share for the current year.

Insider Transactions at Clear Secure

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the transaction, the insider now directly 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 this hyperlink. Company insiders own 39.94% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

A number of hedge funds and other institutional investors have recently modified their holdings of YOU. Arizona State Retirement System lifted its position in shares of Clear Secure by 2.8% during the 4th quarter. Arizona State Retirement System now owns 21,143 shares of the company’s stock worth $437,000 after buying an additional 583 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its position in Clear Secure by 2.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 25,855 shares of the company’s stock worth $534,000 after acquiring an additional 700 shares during the period. Amalgamated Bank lifted its holdings in shares of Clear Secure by 6.2% during the third quarter. Amalgamated Bank now owns 12,682 shares of the company’s stock worth $241,000 after purchasing an additional 745 shares during the period. New York State Common Retirement Fund grew its position in Clear Secure by 2.7% in the 3rd quarter. New York State Common Retirement Fund now owns 34,289 shares of the company’s stock valued at $653,000 after buying an additional 900 shares during the last quarter. Finally, Versor Investments LP increased its stake in Clear Secure by 2.3% in the 4th quarter. Versor Investments LP now owns 44,795 shares of the company’s stock valued at $925,000 after buying an additional 1,017 shares during the period. 73.80% of the stock is currently owned by institutional investors and hedge funds.

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.