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

Clear Secure (NYSE:YOU)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $45.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 68.73% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Wedbush reaffirmed a “neutral” rating and set a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Finally, Telsey Advisory Group boosted their target price on Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.67.

Clear Secure Stock Up 2.7 %

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

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

Insiders Place Their Bets

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $34.08, for a total transaction of $5,112,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 37.85% of the company’s stock.

Institutional Trading of Clear Secure

Large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC purchased a new stake in Clear Secure during the third quarter valued at approximately $20,243,000. Franklin Resources Inc. increased its stake in shares of Clear Secure by 10.9% in the 3rd quarter. Franklin Resources Inc. now owns 46,175 shares of the company’s stock worth $1,612,000 after purchasing an additional 4,527 shares in the last quarter. Tidal Investments LLC bought a new position in Clear Secure in the 3rd quarter worth $1,026,000. Sanctuary Advisors LLC purchased a new position in Clear Secure during the third quarter valued at $965,000. Finally, Virtu Financial LLC bought a new stake in Clear Secure during the third quarter valued at about $480,000. Institutional investors own 73.80% of the company’s stock.

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.