Wall Street Zen Upgrades CLEAR Secure (NYSE:YOU) to Buy

CLEAR Secure (NYSE:YOU) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

YOU has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of CLEAR Secure in a research report on Monday, March 24th. Telsey Advisory Group restated an “outperform” rating and set a $32.00 price target on shares of CLEAR Secure in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, CLEAR Secure has a consensus rating of “Moderate Buy” and an average price target of $32.00.

CLEAR Secure Price Performance

YOU opened at $29.00 on Friday. The company has a fifty day moving average price of $25.55 and a 200-day moving average price of $25.39. The firm has a market capitalization of $3.86 billion, a P/E ratio of 18.13 and a beta of 1.25. CLEAR Secure has a one year low of $18.23 and a one year high of $38.88.

CLEAR Secure (NYSE:YOU) last announced its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.04). CLEAR Secure had a return on equity of 115.09% and a net margin of 21.96%. The company had revenue of $211.40 million during the quarter, compared to analysts’ expectations of $208.02 million. During the same quarter last year, the firm posted $0.28 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, analysts expect that CLEAR Secure will post 0.98 earnings per share for the current year.

Insider Transactions at CLEAR Secure

In related news, Director Kenneth L. Cornick sold 315,591 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $25.02, for a total value of $7,896,086.82. Following the completion of the transaction, the director directly owned 64,935 shares of the company’s stock, valued at $1,624,673.70. This represents a 82.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Adam Wiener sold 3,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $27.50, for a total transaction of $82,500.00. Following the completion of the transaction, the director directly owned 212,634 shares of the company’s stock, valued at approximately $5,847,435. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 960,964 shares of company stock valued at $24,238,299. 39.73% of the stock is owned by insiders.

Hedge Funds Weigh In On CLEAR Secure

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of CLEAR Secure by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 12,526,949 shares of the company’s stock valued at $333,718,000 after purchasing an additional 473,207 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in CLEAR Secure by 15.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,698,159 shares of the company’s stock worth $98,519,000 after purchasing an additional 501,000 shares during the last quarter. Wellington Management Group LLP boosted its holdings in CLEAR Secure by 74.9% in the fourth quarter. Wellington Management Group LLP now owns 3,322,514 shares of the company’s stock worth $88,512,000 after purchasing an additional 1,422,999 shares during the last quarter. Durable Capital Partners LP purchased a new stake in CLEAR Secure in the first quarter worth approximately $76,673,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in CLEAR Secure by 112.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,766,798 shares of the company’s stock worth $73,707,000 after purchasing an additional 1,463,748 shares during the last quarter. Institutional investors own 73.80% of the company’s stock.

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.