Clear Secure’s (YOU) Buy Rating Reiterated at Needham & Company LLC

Clear Secure (NYSE:YOU)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $45.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 70.65% from the stock’s current price.

YOU has been the topic of a number of other reports. Stifel Nicolaus lifted 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. Wedbush reiterated a “neutral” rating and issued a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Finally, Telsey Advisory Group upped their price objective on Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a research 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.67.

Clear Secure Stock Performance

NYSE YOU opened at $26.37 on Monday. The business has a 50 day simple moving average of $30.84 and a 200 day simple moving average of $26.51. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 30.66 and a beta of 1.43. Clear Secure has a 52-week low of $16.05 and a 52-week high of $38.88.

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

Insider Transactions at Clear Secure

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth L. Cornick sold 250,000 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 550,000 shares of company stock worth $18,143,000 over the last three months. 37.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new position in Clear Secure during the second quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of Clear Secure during the third quarter worth about $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Clear Secure in the 3rd quarter worth about $33,000. KBC Group NV bought a new position in Clear Secure in the 3rd quarter valued at about $90,000. Finally, Plato Investment Management Ltd boosted its stake in Clear Secure by 10,535.4% during the 2nd quarter. Plato Investment Management Ltd now owns 5,105 shares of the company’s stock valued at $96,000 after purchasing an additional 5,057 shares during the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

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.