CLEAR Secure (NYSE:YOU) Raised to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded CLEAR Secure to “strong buy” from “buy,” though the broader analyst consensus remains “hold” with an average price target of $58.57.
• CLEAR Secure reported stronger-than-expected quarterly results, including EPS of $0.49 versus the $0.40 estimate and revenue of $277.76 million, up 26.6% year over year.
• Shares opened at $45.33 and were down 0.7%; institutional investors own 73.8% of the stock, while two executives recently sold shares under pre-arranged trading plans.

CLEAR Secure (NYSE:YOU - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

YOU has been the subject of a number of other reports. Needham & Company LLC increased their target price on CLEAR Secure from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Zacks Research cut shares of CLEAR Secure from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wells Fargo & Company upped their price target on shares of CLEAR Secure from $33.00 to $40.00 and gave the company an "underweight" rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $60.00 price objective on shares of CLEAR Secure in a research report on Thursday, May 7th. Finally, Telsey Advisory Group lifted their price objective on shares of CLEAR Secure from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, CLEAR Secure presently has a consensus rating of "Hold" and an average price target of $58.57.

CLEAR Secure Trading Down 0.7%

Shares of YOU stock opened at $45.33 on Friday. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 30.84 and a beta of 1.06. CLEAR Secure has a 12-month low of $29.43 and a 12-month high of $69.07. The stock's 50-day moving average price is $53.34 and its 200-day moving average price is $49.96.

CLEAR Secure (NYSE:YOU - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. CLEAR Secure had a return on equity of 71.51% and a net margin of 14.78%.The company had revenue of $277.76 million during the quarter, compared to analyst estimates of $269.71 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm's revenue was up 26.6% on a year-over-year basis. As a group, research analysts predict that CLEAR Secure will post 1.71 EPS for the current fiscal year.

Insider Buying and Selling at CLEAR Secure

In other CLEAR Secure news, President Michael Z. Barkin sold 11,550 shares of CLEAR Secure stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $56.29, for a total transaction of $650,149.50. Following the completion of the transaction, the president directly owned 22,994 shares of the company's stock, valued at $1,294,332.26. The trade was a 33.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kyle Mclaughlin sold 8,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $56.20, for a total transaction of $449,600.00. Following the transaction, the executive vice president owned 29,519 shares in the company, valued at $1,658,967.80. This trade represents a 21.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 29.70% of the company's stock.

Hedge Funds Weigh In On CLEAR Secure

A number of large investors have recently made changes to their positions in YOU. One Capital Management LLC bought a new stake in CLEAR Secure in the fourth quarter worth about $1,270,000. Ashford Capital Management Inc. grew its stake in shares of CLEAR Secure by 97.5% during the first quarter. Ashford Capital Management Inc. now owns 533,268 shares of the company's stock valued at $25,816,000 after buying an additional 263,218 shares during the last quarter. Hussman Strategic Advisors Inc. raised its holdings in shares of CLEAR Secure by 50.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the company's stock worth $2,210,000 after buying an additional 21,000 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of CLEAR Secure in the second quarter worth approximately $82,542,000. Finally, Jupiter Asset Management Ltd. lifted its stake in shares of CLEAR Secure by 260.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 879,039 shares of the company's stock worth $30,837,000 after acquiring an additional 635,400 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

CLEAR Secure Company Profile

CLEAR Secure, Inc operates a biometric identity platform designed to expedite identity verification for air travelers and venue guests. The company’s core offering is the CLEAR membership service, which uses fingerprint and iris scans to confirm a member’s identity and provide access to dedicated security lanes at participating airports. Members link government-issued IDs and personal biometric data via the CLEAR app, enabling faster processing through Transportation Security Administration (TSA) checkpoints and select event entrances.

Founded in 2010 by Caryn Seidman‐Becker and Ken Cornick, CLEAR is headquartered in New York City.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source