CLEAR Secure (NYSE:YOU) Reaches New 12-Month High After Earnings Beat

CLEAR Secure, Inc. (NYSE:YOU) reached a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $69.07 and last traded at $59.51, with a volume of 686173 shares trading hands. The stock had previously closed at $55.73.

The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. CLEAR Secure had a return on equity of 68.98% and a net margin of 13.01%.The company had revenue of $277.76 million for the quarter, compared to the consensus estimate of $269.71 million. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on YOU shares. Stifel Nicolaus set a $60.00 price target on CLEAR Secure in a research report on Thursday, May 7th. Weiss Ratings raised CLEAR Secure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Wells Fargo & Company boosted their target price on shares of CLEAR Secure from $33.00 to $40.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Needham & Company LLC upped their target price on shares of CLEAR Secure from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Zacks Research cut shares of CLEAR Secure from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.57.

Insider Buying and Selling at CLEAR Secure

In other CLEAR Secure news, insider Jonathan Schlegel sold 4,412 shares of CLEAR Secure stock in a transaction on Friday, May 15th. The stock was sold at an average price of $59.02, for a total value of $260,396.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kyle Mclaughlin sold 8,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $56.20, for a total value of $449,600.00. Following the sale, the executive vice president owned 29,519 shares in the company, valued at $1,658,967.80. The trade was a 21.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 23,962 shares of company stock worth $1,360,146. 29.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CLEAR Secure

A number of institutional investors have recently modified their holdings of YOU. Parallel Advisors LLC grew its stake in shares of CLEAR Secure by 2,283.3% during the first quarter. Parallel Advisors LLC now owns 715 shares of the company’s stock valued at $35,000 after purchasing an additional 685 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of CLEAR Secure by 249.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 867 shares of the company’s stock valued at $30,000 after purchasing an additional 619 shares in the last quarter. Geneos Wealth Management Inc. raised its position in CLEAR Secure by 329.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company’s stock worth $25,000 after purchasing an additional 748 shares during the last quarter. Allworth Financial LP raised its position in CLEAR Secure by 118.8% in the 4th quarter. Allworth Financial LP now owns 1,022 shares of the company’s stock worth $36,000 after purchasing an additional 555 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in CLEAR Secure during the 1st quarter worth $28,000. 73.80% of the stock is owned by institutional investors.

CLEAR Secure Trading Up 9.1%

The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 49.02 and a beta of 1.06. The firm has a fifty day simple moving average of $54.35 and a 200-day simple moving average of $49.23.

About CLEAR Secure

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.