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

Clear Secure (NYSE:YOU) had its target price decreased by Wedbush from $23.00 to $21.00 in a report released on Thursday morning, Benzinga reports. Wedbush currently has a neutral rating on the stock.

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

Clear Secure Stock Performance

Shares of Clear Secure stock opened at $17.78 on Thursday. Clear Secure has a 52 week low of $15.28 and a 52 week high of $27.75. The stock has a 50 day moving average price of $19.48 and a two-hundred day moving average price of $19.69. The stock has a market capitalization of $2.82 billion, a PE ratio of 59.27 and a beta of 1.54.

Clear Secure (NYSE:YOU) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $170.97 million during the quarter, compared to analysts’ expectations of $166.56 million. Clear Secure had a return on equity of 9.66% and a net margin of 4.58%. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) earnings per share. Research analysts forecast that Clear Secure will post 0.41 EPS for the current year.

Clear Secure Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Monday, April 8th. Shareholders of record on Monday, April 1st were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This is a boost from Clear Secure’s previous None dividend of $0.25. Clear Secure’s payout ratio is currently 120.00%.

Insiders Place Their Bets

In other Clear Secure news, insider Richard N. Jr. Patterson sold 7,500 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $20.00, for a total value of $150,000.00. Following the sale, the insider now directly owns 41,727 shares in the company, valued at $834,540. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 39.94% of the company’s stock.

Institutional Trading of Clear Secure

Hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. bought a new stake in shares of Clear Secure in the fourth quarter valued at $1,079,000. Vanguard Group Inc. raised its stake in shares of Clear Secure by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,249,449 shares of the company’s stock valued at $176,110,000 after purchasing an additional 143,300 shares during the period. Aigen Investment Management LP bought a new stake in shares of Clear Secure during the 3rd quarter valued at $192,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Clear Secure by 93.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 122,300 shares of the company’s stock valued at $2,329,000 after purchasing an additional 58,961 shares during the period. Finally, Algert Global LLC bought a new stake in shares of Clear Secure during the 3rd quarter valued at $3,342,000. 73.80% of the stock is currently owned by institutional investors.

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.