CLEAR Secure (NYSE:YOU) Price Target Raised to $25.00

Key Points

• Wells Fargo & Company raised its price target for CLEAR Secure (NYSE:YOU) from $23.00 to $25.00, but maintained an "underweight" rating, indicating a potential downside of 22.94% from its current price.
• Other analysts, such as Telsey Advisory Group and Goldman Sachs, increased their target prices to $37.00, reflecting more optimistic outlooks with "outperform" and "buy" ratings respectively.
• CLEAR Secure's stock saw a recent performance uptick, trading at $32.44, with a significant increase in quarterly revenue of 17.6% year-over-year, beating analyst expectations.

CLEAR Secure (NYSE:YOU - Get Free Report) had its price target upped by investment analysts at Wells Fargo & Company from $23.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential downside of 22.94% from the company's current price.

Several other research firms have also weighed in on YOU. Telsey Advisory Group increased their price target on CLEAR Secure from $32.00 to $37.00 and gave the company an "outperform" rating in a report on Wednesday. The Goldman Sachs Group increased their price target on CLEAR Secure from $33.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday. Wall Street Zen lowered CLEAR Secure from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Stifel Nicolaus increased their target price on CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $33.00.

CLEAR Secure Price Performance

Shares of NYSE YOU traded up $0.60 during midday trading on Wednesday, reaching $32.44. 1,076,613 shares of the stock traded hands, compared to its average volume of 1,968,490. The company's 50 day moving average is $27.64 and its 200 day moving average is $25.83. CLEAR Secure has a one year low of $21.67 and a one year high of $38.88. The stock has a market capitalization of $4.32 billion, a PE ratio of 20.27 and a beta of 1.25.

CLEAR Secure (NYSE:YOU - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. CLEAR Secure had a return on equity of 115.09% and a net margin of 21.96%. The company had revenue of $219.47 million for the quarter, compared to analyst estimates of $214.90 million. During the same quarter in the prior year, the firm posted $0.34 EPS. CLEAR Secure's quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts forecast that CLEAR Secure will post 0.98 EPS for the current year.

Insider Activity

In other CLEAR Secure news, Director Kenneth L. Cornick sold 228,374 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $25.54, for a total transaction of $5,832,671.96. Following the completion of the sale, the director directly owned 149,093 shares of the company's stock, valued at approximately $3,807,835.22. This represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Adam Wiener sold 5,000 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the sale, the director directly owned 207,634 shares of the company's stock, valued at approximately $6,229,020. The trade was a 2.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 965,964 shares of company stock valued at $24,388,299. Insiders own 39.73% of the company's stock.

Institutional Investors Weigh In On CLEAR Secure

Several institutional investors have recently added to or reduced their stakes in the business. 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 acquiring an additional 501,000 shares in 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 acquiring an additional 1,422,999 shares in the last quarter. Durable Capital Partners LP acquired a new stake in CLEAR Secure in the first quarter worth about $76,673,000. Copeland Capital Management LLC boosted its holdings in CLEAR Secure by 25.2% in the second quarter. Copeland Capital Management LLC now owns 2,474,330 shares of the company's stock worth $68,687,000 after acquiring an additional 497,871 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in CLEAR Secure by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,433,165 shares of the company's stock worth $64,832,000 after acquiring an additional 86,311 shares in the last quarter. Institutional investors and hedge funds 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.

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