Clear Secure (NYSE:YOU) Rating Reiterated by Wedbush

Clear Secure (NYSE:YOU)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a report released on Wednesday, Benzinga reports. They currently have a $21.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 20.14% from the stock’s current price.

Several other research firms also recently issued reports on YOU. Telsey Advisory Group reissued an “outperform” rating and issued a $34.00 price target on shares of Clear Secure in a research report on Tuesday, March 26th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Clear Secure in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.40.

Clear Secure Stock Down 3.3 %

Clear Secure stock traded down $0.60 during mid-day trading on Wednesday, hitting $17.48. 3,105,391 shares of the stock were exchanged, compared to its average volume of 1,539,514. Clear Secure has a 12 month low of $15.28 and a 12 month high of $27.75. The firm’s fifty day simple moving average is $19.17 and its two-hundred day simple moving average is $19.73. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 57.64 and a beta of 1.59.

Clear Secure (NYSE:YOU) last issued its earnings results on Wednesday, February 28th. The company reported $0.16 earnings per share for the quarter, hitting 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 return on equity of 9.66% and a net margin of 4.58%. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) earnings per share. As a group, analysts forecast that Clear Secure will post 0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the firm’s stock in a transaction on 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 transaction, 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 can be accessed through the SEC website. 39.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted 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 worth $69,342,000 after purchasing an additional 811,586 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Clear Secure by 184.9% during the first quarter. Janney Montgomery Scott LLC now owns 1,071,486 shares of the company’s stock valued at $22,791,000 after acquiring an additional 695,418 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Clear Secure by 258.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 440,866 shares of the company’s stock worth $8,394,000 after acquiring an additional 317,934 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of Clear Secure in the 1st quarter worth approximately $6,322,000. Finally, Vanguard Group Inc. boosted its stake in shares of Clear Secure by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 9,460,663 shares of the company’s stock valued at $195,363,000 after purchasing an additional 211,214 shares in the last quarter. Hedge funds and other institutional investors 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.