Wedbush Lowers Clear Secure (NYSE:YOU) Price Target to $21.00

Clear Secure (NYSE:YOU - Get Free Report) had its target price dropped by Wedbush from $23.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Wedbush's price objective indicates a potential upside of 14.69% from the stock's previous close.

Several other brokerages have also issued reports on YOU. Wells Fargo & Company reissued an "underweight" rating and issued a $20.00 price target on shares of Clear Secure in a research note on Wednesday, December 20th. TheStreet raised Clear Secure from a "d+" rating to a "c-" rating in a research note on Friday, December 22nd. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of Clear Secure in a research note on Tuesday, March 26th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $34.00 price target on shares of Clear Secure in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $28.40.

Clear Secure Price Performance

Shares of Clear Secure stock traded down $0.50 during midday trading on Thursday, reaching $18.31. The company had a trading volume of 1,563,413 shares, compared to its average volume of 1,497,759. The stock has a fifty day moving average price of $19.53 and a 200 day moving average price of $19.68. The firm has a market cap of $2.91 billion, a PE ratio of 61.37 and a beta of 1.54. Clear Secure has a fifty-two week low of $15.28 and a fifty-two week high of $27.75.

Clear Secure (NYSE:YOU - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $170.97 million for the quarter, compared to analyst estimates of $166.56 million. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The firm's quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) earnings per share. As a group, sell-side analysts forecast that Clear Secure will post 0.41 EPS for the current year.

Insider Activity

In other news, insider Richard N. Jr. Patterson sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $20.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now owns 41,727 shares in the company, valued at $834,540. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 39.94% of the company's stock.

Institutional Investors Weigh In On Clear Secure

Several institutional investors have recently bought and sold shares of the stock. Durable Capital Partners LP grew its holdings in Clear Secure by 25.5% during the first quarter. Durable Capital Partners LP now owns 10,751,370 shares of the company's stock worth $288,997,000 after buying an additional 2,184,428 shares in the last quarter. Vanguard Group Inc. grew its holdings in Clear Secure by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 9,460,663 shares of the company's stock worth $195,363,000 after buying an additional 211,214 shares in the last quarter. BlackRock Inc. grew its holdings in Clear Secure by 31.5% during the second quarter. BlackRock Inc. now owns 7,086,010 shares of the company's stock worth $164,183,000 after buying an additional 1,696,921 shares in the last quarter. FMR LLC grew its holdings in Clear Secure by 28.7% during the third quarter. FMR LLC now owns 3,641,892 shares of the company's stock worth $69,342,000 after buying an additional 811,586 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Clear Secure by 86.3% during the second quarter. Goldman Sachs Group Inc. now owns 3,260,048 shares of the company's stock worth $75,535,000 after buying an additional 1,510,168 shares in the last quarter. Institutional investors 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.