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

Clear Secure (NYSE:YOU) had its price objective cut by equities researchers at Wedbush from $23.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price target would indicate a potential upside of 14.07% from the stock’s previous close.

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

Clear Secure Price Performance

Clear Secure stock traded down $0.40 during midday trading on Thursday, reaching $18.41. The company had a trading volume of 508,739 shares, compared to its average volume of 1,482,314. The company has a market capitalization of $2.92 billion, a P/E ratio of 61.50 and a beta of 1.54. 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 $19.53 and its 200-day simple moving average is $19.68.

Clear Secure (NYSE:YOU) last released 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 for the quarter, compared to analyst estimates of $166.56 million. Clear Secure had a net margin of 4.58% and a return on equity of 9.66%. The business’s revenue was up 33.3% on a year-over-year basis. During the same period last year, the company posted ($0.12) EPS. On average, analysts expect that Clear Secure will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’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 transaction, the insider now directly owns 41,727 shares of the company’s stock, valued at $834,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 39.94% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

Several large investors have recently made changes to their positions in YOU. Renaissance Capital LLC grew its holdings in Clear Secure by 4.1% during 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 during the period. Quadrature Capital Ltd bought a new stake in Clear Secure during the 4th quarter worth about $896,000. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 211,214 shares during the last quarter. Quarry LP increased its stake in shares of Clear Secure by 86.4% during the 4th quarter. Quarry LP now owns 2,509 shares of the company’s stock worth $52,000 after purchasing an additional 1,163 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Clear Secure in the 4th quarter valued at about $1,672,000. 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.