Clear Secure (NYSE:YOU) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Clear Secure (NYSE:YOU) in a report published on Friday,Benzinga reports. The firm currently has a $45.00 price target on the stock.

A number of other equities analysts also recently commented on YOU. Stifel Nicolaus boosted their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Telsey Advisory Group increased their price target on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, November 1st. The Goldman Sachs Group increased their target price on shares of Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Wedbush restated a “neutral” rating and issued a $26.00 price objective (up previously from $24.00) on shares of Clear Secure in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Clear Secure has an average rating of “Hold” and a consensus target price of $32.67.

Clear Secure Price Performance

Clear Secure stock traded down $0.76 during midday trading on Friday, hitting $27.77. 4,826,419 shares of the stock were exchanged, compared to its average volume of 1,751,949. The company has a 50 day moving average price of $33.08 and a two-hundred day moving average price of $24.77. Clear Secure has a 1 year low of $16.05 and a 1 year high of $38.88. The firm has a market cap of $3.87 billion, a P/E ratio of 35.60 and a beta of 1.63.

Clear Secure (NYSE:YOU) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. The business had revenue of $186.75 million for the quarter, compared to analyst estimates of $183.78 million. Clear Secure had a net margin of 10.36% and a return on equity of 35.33%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business posted $0.05 earnings per share. As a group, analysts predict that Clear Secure will post 1.01 EPS for the current year.

Clear Secure Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio is 51.28%.

Insider Buying and Selling at Clear Secure

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $34.08, for a total transaction of $5,112,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of Clear Secure stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $27.04, for a total value of $202,800.00. Following the transaction, the insider now directly owns 26,727 shares of the company’s stock, valued at $722,698.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,164,935 shares of company stock valued at $36,623,387. 37.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clear Secure

Institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its stake in Clear Secure by 0.5% in the 2nd quarter. Hsbc Holdings PLC now owns 78,968 shares of the company’s stock worth $1,467,000 after acquiring an additional 409 shares during the last quarter. Truist Financial Corp increased its stake in Clear Secure by 2.0% in the 2nd quarter. Truist Financial Corp now owns 29,061 shares of the company’s stock worth $544,000 after purchasing an additional 582 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Clear Secure by 6.1% during the second quarter. Principal Financial Group Inc. now owns 11,859 shares of the company’s stock valued at $222,000 after acquiring an additional 681 shares during the period. Capital Performance Advisors LLP bought a new position in Clear Secure in the third quarter valued at approximately $26,000. Finally, Brown Lisle Cummings Inc. increased its stake in shares of Clear Secure by 11.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,800 shares of the company’s stock valued at $165,000 after purchasing an additional 900 shares during the last quarter. 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.