Wells Fargo & Company Issues Positive Forecast for CLEAR Secure (NYSE:YOU) Stock Price

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 - Free Report) had its price objective raised by Wells Fargo & Company from $23.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of CLEAR Secure from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Stifel Nicolaus boosted their price target on CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group boosted their price target on CLEAR Secure from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Telsey Advisory Group boosted their price target on CLEAR Secure from $32.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $33.00.

CLEAR Secure Price Performance

CLEAR Secure stock traded up $0.04 during trading hours on Wednesday, reaching $31.97. The stock had a trading volume of 1,582,694 shares, compared to its average volume of 1,710,007. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 19.98 and a beta of 1.25. The business's 50 day moving average price is $28.10 and its 200-day moving average price is $25.99. CLEAR Secure has a 52 week low of $21.67 and a 52 week high of $38.88.

CLEAR Secure (NYSE:YOU - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. The business had revenue of $219.47 million during the quarter, compared to the consensus estimate of $214.90 million. CLEAR Secure had a net margin of 21.17% and a return on equity of 122.69%. The firm's revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. On average, sell-side analysts forecast that CLEAR Secure will post 0.98 EPS for the current fiscal year.

CLEAR Secure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 10th will be given a $0.125 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.50 dividend on an annualized basis and a yield of 1.6%. CLEAR Secure's dividend payout ratio is currently 31.25%.

Insider Transactions at CLEAR Secure

In related news, Director Adam Wiener sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the director owned 207,634 shares in the company, valued at $6,229,020. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth L. Cornick sold 228,374 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $25.54, for a total value of $5,832,671.96. Following the completion of the sale, the director owned 149,093 shares in the company, valued at approximately $3,807,835.22. This represents a 60.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 990,964 shares of company stock worth $25,212,499 in the last ninety days. Corporate insiders own 39.73% of the company's stock.

Institutional Investors Weigh In On CLEAR Secure

Several hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its position in CLEAR Secure by 76.9% in the 2nd quarter. Cetera Investment Advisers now owns 24,626 shares of the company's stock worth $684,000 after purchasing an additional 10,708 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of CLEAR Secure by 5.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,688 shares of the company's stock worth $658,000 after buying an additional 1,190 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of CLEAR Secure during the 2nd quarter worth approximately $15,090,000. Hodges Capital Management Inc. raised its stake in shares of CLEAR Secure by 16.1% during the 2nd quarter. Hodges Capital Management Inc. now owns 191,550 shares of the company's stock worth $5,317,000 after buying an additional 26,549 shares during the period. Finally, CSM Advisors LLC acquired a new position in shares of CLEAR Secure during the 2nd quarter worth approximately $2,002,000. Hedge funds and other 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.