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

Clear Secure (NYSE:YOU - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $45.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 62.05% from the company's current price.

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

Clear Secure Trading Down 2.7 %

Shares of YOU stock traded down $0.76 during trading hours on Friday, hitting $27.77. 4,825,647 shares of the company were exchanged, compared to its average volume of 1,751,949. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 35.91 and a beta of 1.63. The firm has a fifty day simple moving average of $33.14 and a 200 day simple moving average of $24.70. Clear Secure has a 52-week low of $16.05 and a 52-week high of $38.88.

Clear Secure (NYSE:YOU - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. The company 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%. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. Sell-side analysts anticipate that Clear Secure will post 1.01 EPS for the current year.

Insider Activity

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $27.04, for a total transaction of $202,800.00. Following the completion of the transaction, the insider now owns 26,727 shares of the company's stock, valued at approximately $722,698.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of the company's stock in a transaction on Friday, October 11th. The stock was 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 the SEC website. Also, insider Richard N. Jr. Patterson sold 7,500 shares of Clear Secure stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $27.04, for a total transaction of $202,800.00. Following the transaction, the insider now owns 26,727 shares in the company, valued at $722,698.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,164,935 shares of company stock worth $36,623,387. Corporate insiders own 37.85% of the company's stock.

Institutional Trading of Clear Secure

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in Clear Secure by 232.1% during the first quarter. Janus Henderson Group PLC now owns 115,282 shares of the company's stock worth $2,452,000 after acquiring an additional 80,569 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Clear Secure in the 2nd quarter valued at about $840,000. AQR Capital Management LLC grew its holdings in Clear Secure by 68.8% in the second quarter. AQR Capital Management LLC now owns 453,262 shares of the company's stock worth $8,481,000 after purchasing an additional 184,795 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Clear Secure by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 1,214,456 shares of the company's stock worth $40,247,000 after acquiring an additional 73,303 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Clear Secure during the 1st quarter worth approximately $837,000. 73.80% of the stock is currently owned by institutional investors.

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.