Clear Secure (NYSE:YOU) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Clear Secure (NYSE:YOU) in a report issued on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $40.00 price objective on the stock.

A number of other brokerages also recently issued reports on YOU. TheStreet upgraded shares of Clear Secure from a d+ rating to a c- rating in a report on Friday, December 22nd. Wells Fargo & Company reiterated an underweight rating and issued a $20.00 price target on shares of Clear Secure in a report on Wednesday, December 20th. Wedbush reissued a neutral rating and issued a $23.00 price objective on shares of Clear Secure in a research note on Wednesday, February 28th. Finally, Telsey Advisory Group reissued an outperform rating and issued a $34.00 price objective on shares of Clear Secure in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Clear Secure currently has a consensus rating of Hold and a consensus target price of $28.80.

Clear Secure Stock Up 2.1 %

Shares of YOU opened at $21.27 on Tuesday. The company has a 50-day simple moving average of $19.56 and a 200-day simple moving average of $19.70. The company has a market capitalization of $3.38 billion, a PE ratio of 70.90 and a beta of 1.52. Clear Secure has a 52-week low of $15.28 and a 52-week high of $27.93.

Clear Secure (NYSE:YOU) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $170.97 million during the quarter, compared to the consensus estimate of $166.56 million. Clear Secure had a net margin of 4.58% and a return on equity of 9.66%. The business’s revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) EPS. On average, research analysts anticipate that Clear Secure will post 0.37 EPS for the current year.

Clear Secure Increases Dividend

The firm also recently disclosed a None dividend, which will be paid on Monday, April 8th. Investors of record on Monday, April 1st will be paid a $0.32 dividend. This is a boost from Clear Secure’s previous None dividend of $0.25. The ex-dividend date is Thursday, March 28th. Clear Secure’s dividend payout ratio is presently 120.00%.

Insiders Place Their Bets

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total transaction of $150,000.00. Following the sale, the insider now directly owns 41,727 shares of the company’s stock, valued at approximately $834,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 39.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clear Secure

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Clear Secure by 20.9% during the 3rd quarter. Royal Bank of Canada now owns 2,357 shares of the company’s stock worth $54,000 after purchasing an additional 407 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Clear Secure by 2.8% in the fourth quarter. Arizona State Retirement System now owns 21,143 shares of the company’s stock worth $437,000 after acquiring an additional 583 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Clear Secure by 4.2% in the fourth quarter. Legal & General Group Plc now owns 16,427 shares of the company’s stock worth $451,000 after acquiring an additional 668 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its position in shares of Clear Secure by 2.8% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 25,855 shares of the company’s stock worth $534,000 after acquiring an additional 700 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Clear Secure by 6.2% in the third quarter. Amalgamated Bank now owns 12,682 shares of the company’s stock worth $241,000 after acquiring an additional 745 shares during the last quarter. 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.