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

Needham & Company LLC reaffirmed their buy rating on shares of Clear Secure (NYSE:YOU) in a report released on Wednesday, Benzinga reports. They currently have a $40.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. Telsey Advisory Group reiterated an outperform rating and issued a $34.00 price target on shares of Clear Secure in a report on Wednesday. Wedbush reiterated a neutral rating and issued a $21.00 price target on shares of Clear Secure in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $29.20.

Clear Secure Trading Up 1.2 %

YOU stock traded up $0.31 during midday trading on Wednesday, hitting $25.85. 2,451,879 shares of the company’s stock were exchanged, compared to its average volume of 1,523,698. Clear Secure has a 12-month low of $15.28 and a 12-month high of $25.89. The firm has a 50 day moving average price of $19.69 and a 200-day moving average price of $19.12. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 46.16 and a beta of 1.58.

Clear Secure (NYSE:YOU) last issued its quarterly earnings results 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. Clear Secure had a return on equity of 32.01% and a net margin of 10.36%. The business had revenue of $186.75 million during the quarter, compared to the consensus estimate of $183.78 million. During the same period in the previous year, the business earned $0.05 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts forecast that Clear Secure will post 0.82 EPS for the current fiscal year.

Clear Secure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. Clear Secure’s payout ratio is currently 71.43%.

Insider Buying and Selling

In other Clear Secure news, CAO Dennis W. Liu sold 1,500 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $25.03, for a total transaction of $37,545.00. Following the completion of the transaction, the chief accounting officer now owns 10,211 shares in the company, valued at approximately $255,581.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.08, for a total value of $165,600.00. Following the completion of the sale, the insider now owns 34,227 shares in the company, valued at $755,732.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dennis W. Liu sold 1,500 shares of the company’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 sale, the chief accounting officer now owns 10,211 shares of the company’s stock, valued at approximately $255,581.33. The disclosure for this sale can be found here. 37.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clear Secure

Institutional investors and hedge funds have recently modified their holdings of the stock. Asset Management One Co. Ltd. acquired a new stake in shares of Clear Secure during the fourth quarter worth $1,079,000. Janus Henderson Group PLC raised its position in Clear Secure by 232.1% during the first quarter. Janus Henderson Group PLC now owns 115,282 shares of the company’s stock valued at $2,452,000 after buying an additional 80,569 shares during the period. Nordea Investment Management AB raised its position in Clear Secure by 425.7% during the first quarter. Nordea Investment Management AB now owns 239,440 shares of the company’s stock valued at $5,129,000 after buying an additional 193,889 shares during the period. Quadrature Capital Ltd acquired a new position in Clear Secure during the fourth quarter valued at $896,000. Finally, Vanguard Group Inc. raised its position in Clear Secure by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 9,460,663 shares of the company’s stock valued at $195,363,000 after buying an additional 211,214 shares during the period. 73.80% of the stock is owned by institutional investors and hedge funds.

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.