Clear Secure (NYSE:YOU) Price Target Cut to $21.00

Clear Secure (NYSE:YOU) had its price objective decreased by stock analysts at Wedbush from $23.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s target price suggests a potential upside of 18.11% from the stock’s previous close.

YOU has been the topic of several other research reports. Wells Fargo & Company reissued an “underweight” rating and set a $20.00 price objective on shares of Clear Secure in a report on Wednesday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Clear Secure in a report on Tuesday, March 26th. TheStreet raised Clear Secure from a “d+” rating to a “c-” rating in a report on Friday, December 22nd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $34.00 target price on shares of Clear Secure in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.40.

Clear Secure Stock Performance

Shares of YOU opened at $17.78 on Thursday. Clear Secure has a 52-week low of $15.28 and a 52-week high of $27.75. The business’s fifty day moving average is $19.48 and its 200-day moving average is $19.67. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 59.27 and a beta of 1.54.

Clear Secure (NYSE:YOU) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The company had revenue of $170.97 million for the quarter, compared to the consensus estimate of $166.56 million. During the same quarter last year, the business posted ($0.12) EPS. Clear Secure’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts forecast that Clear Secure will post 0.41 EPS for the current fiscal year.

Insider Transactions at Clear Secure

In other news, insider Richard N. Jr. Patterson sold 7,500 shares of Clear Secure stock in a transaction dated 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 directly owns 41,727 shares of the company’s stock, valued at approximately $834,540. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of Clear Secure by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the company’s stock worth $411,000 after acquiring an additional 1,631 shares in the last quarter. Renaissance Capital LLC raised its position in shares of Clear Secure by 4.1% in the 1st quarter. Renaissance Capital LLC now owns 54,208 shares of the company’s stock worth $1,153,000 after acquiring an additional 2,154 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Clear Secure in the 4th quarter worth about $896,000. Vanguard Group Inc. increased its position in 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 buying an additional 211,214 shares in the last quarter. Finally, Quarry LP increased its position in Clear Secure by 86.4% in the 4th quarter. Quarry LP now owns 2,509 shares of the company’s stock valued at $52,000 after buying an additional 1,163 shares in the last quarter. 73.80% of the stock is owned by 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.