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

Clear Secure (NYSE:YOU) had its price target trimmed by Wedbush from $23.00 to $21.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the company. Telsey Advisory Group reissued an outperform rating and issued a $34.00 price target on shares of Clear Secure in a research note on Tuesday, March 26th. Wells Fargo & Company reaffirmed an underweight rating and issued a $20.00 target price on shares of Clear Secure in a research report on Wednesday, December 20th. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 target price on shares of Clear Secure in a research report on Tuesday, March 26th. Finally, TheStreet raised Clear Secure from a d+ rating to a c- rating in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $28.40.

Clear Secure Price Performance

NYSE YOU opened at $18.31 on Thursday. The stock’s 50 day simple moving average is $19.51 and its 200 day simple moving average is $19.67. Clear Secure has a one year low of $15.28 and a one year high of $27.75. The firm has a market cap of $2.91 billion, a PE ratio of 61.04 and a beta of 1.54.

Clear Secure (NYSE:YOU) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The company 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 quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, equities analysts expect that Clear Secure will post 0.41 earnings per share for the current year.

Clear Secure Increases Dividend

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

Insider Transactions at Clear Secure

In other 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 stock was sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now owns 41,727 shares in the company, valued at $834,540. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 39.94% of the company’s stock.

Institutional Investors Weigh In On Clear Secure

A number of institutional investors have recently made changes to their positions in YOU. Durable Capital Partners LP boosted its holdings in shares of Clear Secure by 25.5% during the first 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 period. Vanguard Group Inc. boosted 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 worth $87,601,000 after acquiring an additional 1,920,329 shares during the period. BlackRock Inc. boosted 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 worth $164,183,000 after acquiring an additional 1,696,921 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Clear Secure by 86.3% in 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 during the period. Finally, State Street Corp boosted its stake in shares of Clear Secure by 606.0% in 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 during the period. 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.