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

Clear Secure (NYSE:YOU) had its price objective cut by Wedbush from $23.00 to $21.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on YOU. Telsey Advisory Group reaffirmed an outperform rating and set a $34.00 target price on shares of Clear Secure in a research note on Tuesday, March 26th. Wells Fargo & Company reissued an underweight rating and issued a $20.00 price objective on shares of Clear Secure in a research note on Wednesday, December 20th. Needham & Company LLC reissued a buy rating and issued a $40.00 price objective on shares of Clear Secure in a research note on Tuesday, March 26th. Finally, TheStreet raised Clear Secure from a d+ rating to a c- rating in a research note on Friday, December 22nd. 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 stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $28.40.

Clear Secure Price Performance

Shares of Clear Secure stock opened at $18.31 on Thursday. The business’s fifty day moving average price is $19.51 and its two-hundred day moving average price is $19.67. The company has a market capitalization of $2.91 billion, a P/E ratio of 61.04 and a beta of 1.54. Clear Secure has a 1-year low of $15.28 and a 1-year high of $27.75.

Clear Secure (NYSE:YOU) last announced its earnings results on Wednesday, February 28th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $170.97 million for 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 quarter in the previous year, the business earned ($0.12) EPS. On average, research analysts expect that Clear Secure will post 0.41 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The business also recently announced a None dividend, which was paid on Monday, April 8th. Investors of record on Monday, April 1st were issued a $0.32 dividend. This is a boost from Clear Secure’s previous None dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 28th. Clear Secure’s payout ratio is presently 120.00%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Clear Secure

A number of hedge funds have recently modified their holdings of YOU. Durable Capital Partners LP grew its holdings in shares of Clear Secure by 25.5% in the 1st quarter. Durable Capital Partners LP now owns 10,751,370 shares of the company’s stock worth $288,997,000 after acquiring an additional 2,184,428 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Clear Secure by 143.5% during the first quarter. Vanguard Group Inc. now owns 3,258,957 shares of the company’s stock valued at $87,601,000 after buying an additional 1,920,329 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Clear Secure by 31.5% during the second quarter. BlackRock Inc. now owns 7,086,010 shares of the company’s stock valued at $164,183,000 after buying an additional 1,696,921 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Clear Secure by 86.3% during the second quarter. Goldman Sachs Group Inc. now owns 3,260,048 shares of the company’s stock valued at $75,535,000 after buying an additional 1,510,168 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Clear Secure by 606.0% during the second quarter. State Street Corp now owns 1,007,168 shares of the company’s stock valued at $20,143,000 after buying an additional 864,515 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

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.