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

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 - Get Free Report) had its price target lifted by research analysts at The Goldman Sachs Group from $33.00 to $37.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 15.07% from the company's previous close.

Several other equities analysts have also commented on the stock. Wall Street Zen lowered shares of CLEAR Secure from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Stifel Nicolaus increased their price target on shares of CLEAR Secure from $26.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Finally, Telsey Advisory Group increased their price target on shares of CLEAR Secure from $32.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, CLEAR Secure presently has an average rating of "Moderate Buy" and an average price target of $34.60.

CLEAR Secure Price Performance

Shares of YOU stock traded up $0.31 during mid-day trading on Wednesday, hitting $32.15. 377,262 shares of the stock traded hands, compared to its average volume of 1,963,461. The stock has a market cap of $4.28 billion, a P/E ratio of 20.08 and a beta of 1.25. The stock's fifty day moving average is $27.64 and its two-hundred day moving average is $25.83. 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 quarterly earnings data on Tuesday, August 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. The firm had revenue of $219.47 million during the quarter, compared to analyst estimates of $214.90 million. CLEAR Secure had a net margin of 21.96% and a return on equity of 115.09%. CLEAR Secure's revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. As a group, equities analysts forecast that CLEAR Secure will post 0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Adam Wiener sold 5,000 shares of the firm's stock in a transaction that occurred on 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 owned 207,634 shares of the company's stock, valued at $6,229,020. This trade represents a 2.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth L. Cornick sold 228,374 shares of the firm'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 transaction of $5,832,671.96. Following the sale, the director directly owned 149,093 shares in the company, valued at $3,807,835.22. The trade was a 60.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 965,964 shares of company stock worth $24,388,299 in the last ninety days. Corporate insiders own 39.73% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its position in shares of CLEAR Secure by 22.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,804 shares of the company's stock valued at $50,000 after buying an additional 330 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of CLEAR Secure by 0.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 62,763 shares of the company's stock valued at $1,626,000 after buying an additional 481 shares in the last quarter. Cim LLC lifted its position in shares of CLEAR Secure by 1.0% during the 1st quarter. Cim LLC now owns 58,156 shares of the company's stock valued at $1,507,000 after buying an additional 590 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of CLEAR Secure by 61.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,806 shares of the company's stock valued at $50,000 after buying an additional 690 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of CLEAR Secure by 329.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 975 shares of the company's stock valued at $25,000 after buying an additional 748 shares in the last quarter. 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.

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