Clear Secure (NYSE:YOU) Price Target Cut to $21.00 by Analysts at Wedbush

Clear Secure (NYSE:YOU) had its price objective dropped by stock analysts at Wedbush from $23.00 to $21.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s price target suggests a potential upside of 18.11% from the company’s current price.

A number of other equities analysts also recently commented on YOU. Wells Fargo & Company restated an “underweight” rating and issued a $20.00 target price on shares of Clear Secure in a research note on Wednesday, December 20th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of Clear Secure in a research note on Tuesday, March 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $34.00 price objective on shares of Clear Secure in a research note on Tuesday, March 26th. Finally, TheStreet upgraded shares of Clear Secure from a “d+” rating to a “c-” rating in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Clear Secure has a consensus rating of “Hold” and a consensus price target of $28.40.

Clear Secure Price Performance

Shares of YOU stock opened at $17.78 on Thursday. The company has a market capitalization of $2.82 billion, a P/E ratio of 59.27 and a beta of 1.54. The company’s 50-day simple moving average is $19.48 and its two-hundred day simple moving average is $19.67. Clear Secure has a one year low of $15.28 and a one year high of $27.75.

Clear Secure (NYSE:YOU) last issued its earnings results on Wednesday, February 28th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $170.97 million for the quarter, compared to the consensus estimate of $166.56 million. Clear Secure had a net margin of 4.58% and a return on equity of 9.66%. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) EPS. On average, research analysts expect that Clear Secure will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Clear Secure

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in YOU. Durable Capital Partners LP raised its holdings in shares of Clear Secure by 25.5% in 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Clear Secure by 143.5% in the first quarter. Vanguard Group Inc. now owns 3,258,957 shares of the company’s stock worth $87,601,000 after buying an additional 1,920,329 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Clear Secure by 31.5% in 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Clear Secure by 86.3% in 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 during the last quarter. Finally, State Street Corp raised its holdings in shares of Clear Secure by 606.0% in the second quarter. State Street Corp now owns 1,007,168 shares of the company’s stock worth $20,143,000 after buying an additional 864,515 shares during 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.