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

Clear Secure (NYSE:YOU)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They currently have a $40.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 132.83% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Wedbush reiterated a “neutral” rating and set a $21.00 price target on shares of Clear Secure in a report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $34.00 target price on shares of Clear Secure in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.40.

Clear Secure Stock Down 5.0 %

Shares of Clear Secure stock traded down $0.90 during trading on Wednesday, hitting $17.18. The stock had a trading volume of 6,560,409 shares, compared to its average volume of 1,578,644. Clear Secure has a 1 year low of $15.28 and a 1 year high of $27.75. The stock has a 50 day simple moving average of $19.17 and a 200 day simple moving average of $19.73. The company has a market capitalization of $2.73 billion, a PE ratio of 57.27 and a beta of 1.59.

Clear Secure (NYSE:YOU) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Clear Secure had a net margin of 4.58% and a return on equity of 9.66%. The business had revenue of $170.97 million during the quarter, compared to analysts’ expectations of $166.56 million. During the same period last year, the company posted ($0.12) earnings per share. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. As a group, equities analysts expect that Clear Secure will post 0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the completion of the sale, the insider now owns 41,727 shares in the company, valued at $834,540. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 39.94% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

Institutional investors have recently bought and sold shares of the business. Montag A & Associates Inc. bought a new position in shares of Clear Secure during the 1st quarter worth about $26,000. Quarry LP lifted its stake in Clear Secure by 86.4% during the fourth quarter. Quarry LP now owns 2,509 shares of the company’s stock worth $52,000 after purchasing an additional 1,163 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Clear Secure during the third quarter valued at approximately $68,000. Aigen Investment Management LP acquired a new stake in Clear Secure during the third quarter valued at approximately $192,000. Finally, Russell Investments Group Ltd. grew its position in Clear Secure by 56.2% in the fourth quarter. Russell Investments Group Ltd. now owns 10,233 shares of the company’s stock valued at $211,000 after acquiring an additional 3,683 shares during the period. Institutional investors and hedge funds 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.