The Goldman Sachs Group Raises CLEAR Secure (NYSE:YOU) Price Target to $37.00

Key Points

• The Goldman Sachs Group has raised its price target for CLEAR Secure (NYSE:YOU) from $33.00 to $37.00, indicating a potential upside of 15.07% from the previous close and maintaining a "buy" rating on the stock.
• Several analysts have differing views on CLEAR Secure, with Wall Street Zen downgrading it to a "hold" rating, while Telsey Advisory Group has upgraded their target to $37.00 with an "outperform" rating.
• CLEAR Secure reported a quarterly EPS of $0.26, exceeding estimates, and showed a revenue increase of 17.6% year-over-year, suggesting strong financial performance despite insider selling activity.

CLEAR Secure (NYSE:YOU - Free Report) had its price objective lifted by The Goldman Sachs Group from $33.00 to $37.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Telsey Advisory Group upped their target price on shares of CLEAR Secure from $32.00 to $37.00 and gave the stock an "outperform" rating in a research note on Wednesday. Stifel Nicolaus upped their target price on shares of CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of CLEAR Secure from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.00.

CLEAR Secure Price Performance

Shares of YOU stock traded up $0.04 during trading hours on Wednesday, reaching $31.97. 1,582,694 shares of the stock were exchanged, compared to its average volume of 1,693,674. The business's fifty day moving average is $28.10 and its two-hundred day moving average is $25.97. CLEAR Secure has a 12-month low of $21.67 and a 12-month high of $38.88. The firm has a market capitalization of $4.25 billion, a P/E ratio of 19.98 and a beta of 1.25.

CLEAR Secure (NYSE:YOU - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.03. CLEAR Secure had a net margin of 21.17% and a return on equity of 122.69%. The firm had revenue of $219.47 million for the quarter, compared to analyst estimates of $214.90 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The business's quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts predict that CLEAR Secure will post 0.98 earnings per share for the current fiscal year.

CLEAR Secure Announces Dividend

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

Insider Activity at CLEAR Secure

In other CLEAR Secure news, Director Kenneth L. Cornick sold 315,591 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $25.02, for a total value of $7,896,086.82. Following the transaction, the director directly owned 64,935 shares in the company, valued at $1,624,673.70. This represents a 82.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adam Wiener sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the sale, the director directly owned 207,634 shares of the company's stock, valued at $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 990,964 shares of company stock valued at $25,212,499. Company insiders own 39.73% of the company's stock.

Institutional Investors Weigh In On CLEAR Secure

Several large investors have recently modified their holdings of the company. Cetera Investment Advisers boosted its holdings in shares of CLEAR Secure by 76.9% in the second quarter. Cetera Investment Advisers now owns 24,626 shares of the company's stock valued at $684,000 after acquiring an additional 10,708 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of CLEAR Secure by 5.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,688 shares of the company's stock valued at $658,000 after acquiring an additional 1,190 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of CLEAR Secure in the second quarter valued at approximately $15,090,000. Hodges Capital Management Inc. boosted its holdings in shares of CLEAR Secure by 16.1% in the second quarter. Hodges Capital Management Inc. now owns 191,550 shares of the company's stock valued at $5,317,000 after acquiring an additional 26,549 shares during the period. Finally, CSM Advisors LLC acquired a new stake in shares of CLEAR Secure in the second quarter valued at approximately $2,002,000. 73.80% of the stock is 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.