Clear Secure (NYSE:YOU) Given New $21.00 Price Target at Wedbush

Clear Secure (NYSE:YOU) had its price target cut by investment analysts at Wedbush from $23.00 to $21.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential upside of 14.07% from the company’s current price.

A number of other brokerages also recently commented on YOU. Wells Fargo & Company restated an “underweight” rating and issued a $20.00 target price on shares of Clear Secure in a research note on Wednesday, December 20th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Clear Secure in a research note on Tuesday, March 26th. Telsey Advisory Group restated an “outperform” rating and issued a $34.00 target price on shares of Clear Secure in a research note on Tuesday, March 26th. Finally, TheStreet upgraded Clear Secure from a “d+” rating to a “c-” rating in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.40.

Clear Secure Stock Performance

Shares of YOU stock traded down $0.40 on Thursday, reaching $18.41. 508,739 shares of the company’s stock traded hands, compared to its average volume of 1,482,314. Clear Secure has a 12-month low of $15.28 and a 12-month high of $27.75. The company has a market capitalization of $2.92 billion, a P/E ratio of 61.50 and a beta of 1.54. The business’s 50 day moving average price is $19.53 and its two-hundred day moving average price is $19.68.

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, meeting analysts’ consensus estimates of $0.16. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The business had revenue of $170.97 million for the quarter, compared to the consensus estimate of $166.56 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. Clear Secure’s revenue for the quarter was up 33.3% compared to the same quarter last year. Research analysts predict that Clear Secure will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Clear Secure

In other Clear Secure 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 stock was sold at an average price of $20.00, for a total value of $150,000.00. Following the completion of the transaction, the insider now owns 41,727 shares of the company’s stock, valued at approximately $834,540. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 39.94% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

Large investors have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Clear Secure in the 1st quarter valued at approximately $38,000. Virtus Fund Advisers LLC bought a new stake in shares of Clear Secure in the 4th quarter valued at approximately $31,000. BluePath Capital Management LLC bought a new stake in shares of Clear Secure in the 3rd quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new stake in shares of Clear Secure in the 2nd quarter valued at approximately $45,000. Finally, Royal Bank of Canada grew its stake in shares of Clear Secure by 20.9% in the 3rd quarter. Royal Bank of Canada now owns 2,357 shares of the company’s stock valued at $54,000 after purchasing an additional 407 shares during the period. 73.80% of the stock is currently owned by institutional investors.

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.