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

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

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company reaffirmed an underweight rating and issued a $20.00 target price on shares of Clear Secure in a report on Wednesday, December 20th. Telsey Advisory Group reissued an outperform rating and issued a $34.00 price objective on shares of Clear Secure in a research report on Tuesday. TheStreet raised shares of Clear Secure from a d+ rating to a c- rating in a research report on Friday, December 22nd. Finally, Wedbush restated a neutral rating and issued a $23.00 target price on shares of Clear Secure in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock 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 market capitalization of $3.38 billion, a P/E ratio of 70.90 and a beta of 1.52. The firm has a 50 day moving average of $19.56 and a 200 day moving average of $19.70. Clear Secure has a twelve month low of $15.28 and a twelve month high of $27.93.

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

Clear Secure Increases Dividend

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

Insider Activity

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of the company’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 39.94% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

Large investors have recently added to or reduced their stakes in the business. Durable Capital Partners LP boosted its holdings in shares of Clear Secure by 25.5% in the 1st quarter. Durable Capital Partners LP now owns 10,751,370 shares of the company’s stock valued at $288,997,000 after buying an additional 2,184,428 shares in the last quarter. Vanguard Group Inc. raised its position in Clear Secure by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 9,460,663 shares of the company’s stock worth $195,363,000 after buying an additional 211,214 shares during the last quarter. BlackRock Inc. raised its position in Clear Secure by 31.5% during the 2nd quarter. BlackRock Inc. now owns 7,086,010 shares of the company’s stock worth $164,183,000 after buying an additional 1,696,921 shares during the last quarter. FMR LLC increased its holdings in shares of Clear Secure by 28.7% in the 3rd quarter. FMR LLC now owns 3,641,892 shares of the company’s stock valued at $69,342,000 after purchasing an additional 811,586 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Clear Secure by 86.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,260,048 shares of the company’s stock valued at $75,535,000 after purchasing an additional 1,510,168 shares in the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

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.