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

Clear Secure (NYSE:YOU)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $45.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 22.15% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Telsey Advisory Group increased their price objective on shares of Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group increased their price objective 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, Stifel Nicolaus increased their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.83.

Clear Secure Stock Performance

Shares of NYSE:YOU opened at $36.84 on Friday. The firm has a market cap of $5.13 billion, a PE ratio of 47.23 and a beta of 1.63. The firm’s 50 day simple moving average is $32.71 and its 200-day simple moving average is $24.29. Clear Secure has a one year low of $16.05 and a one year high of $38.04.

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

Insider Buying and Selling at Clear Secure

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $22.08, for a total value of $165,600.00. Following the completion of the transaction, the insider now owns 34,227 shares of the company’s stock, valued at approximately $755,732.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Clear Secure news, CAO Dennis W. Liu sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $25.03, for a total value of $37,545.00. Following the completion of the transaction, the chief accounting officer now owns 10,211 shares of the company’s stock, valued at approximately $255,581.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard N. Jr. Patterson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.08, for a total transaction of $165,600.00. Following the completion of the transaction, the insider now directly owns 34,227 shares of the company’s stock, valued at approximately $755,732.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,173,935 shares of company stock worth $36,826,532 over the last three months. Corporate insiders own 37.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in YOU. Hsbc Holdings PLC raised its holdings in shares of Clear Secure by 0.5% during the second quarter. Hsbc Holdings PLC now owns 78,968 shares of the company’s stock worth $1,467,000 after purchasing an additional 409 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Clear Secure by 2.0% during the second quarter. Truist Financial Corp now owns 29,061 shares of the company’s stock worth $544,000 after purchasing an additional 582 shares during the last quarter. Principal Financial Group Inc. raised its holdings 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 worth $222,000 after purchasing an additional 681 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Clear Secure during the third quarter worth $26,000. Finally, Brown Lisle Cummings Inc. raised its holdings in shares of Clear Secure by 11.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,800 shares of the company’s stock worth $165,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other 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.