Wedbush Reiterates “Neutral” Rating for Clear Secure (NYSE:YOU)

Clear Secure (NYSE:YOU)‘s stock had its “neutral” rating reaffirmed by Wedbush in a research note issued to investors on Thursday,RTT News reports. They currently have a $26.00 price objective on the stock, up from their previous price objective of $24.00. Wedbush’s price target suggests a potential downside of 6.37% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of Clear Secure in a research report on Friday, November 1st. Telsey Advisory Group lifted their target price on shares of Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group increased their price target on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Clear Secure presently has an average rating of “Hold” and a consensus price target of $32.67.

Clear Secure Price Performance

NYSE:YOU opened at $27.77 on Thursday. The firm has a 50-day moving average of $33.14 and a two-hundred day moving average of $24.70. The stock has a market cap of $3.87 billion, a P/E ratio of 35.91 and a beta of 1.63. Clear Secure has a 1-year low of $16.05 and a 1-year high of $38.88.

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

Insider Activity at Clear Secure

In other Clear Secure news, CFO Kenneth L. Cornick sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $32.30, for a total transaction of $8,075,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Dennis W. Liu sold 1,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $46,575.00. Following the transaction, the chief accounting officer now owns 7,211 shares of the company’s stock, valued at $223,901.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth L. Cornick sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,164,935 shares of company stock valued at $36,623,387 in the last 90 days. 37.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clear Secure

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Clear Secure by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the company’s stock valued at $411,000 after purchasing an additional 1,631 shares during the period. Quantbot Technologies LP raised its holdings in Clear Secure by 302.8% during the first quarter. Quantbot Technologies LP now owns 33,159 shares of the company’s stock valued at $705,000 after acquiring an additional 24,926 shares during the period. Swiss National Bank lifted its holdings in shares of Clear Secure by 1.3% in the first quarter. Swiss National Bank now owns 150,900 shares of the company’s stock worth $3,210,000 after buying an additional 1,900 shares in the last quarter. Montag A & Associates Inc. purchased a new position in Clear Secure during the 1st quarter valued at approximately $26,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Clear Secure by 9.7% in the 1st quarter. ProShare Advisors LLC now owns 14,939 shares of the company’s stock valued at $318,000 after acquiring an additional 1,327 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

About Clear Secure

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.