CLEAR Secure (NYSE:YOU) Rating Lowered to Hold at Zacks Research

CLEAR Secure (NYSE:YOU) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Telsey Advisory Group raised their price target on CLEAR Secure from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $75.00 target price on shares of CLEAR Secure in a research note on Thursday, May 7th. Stifel Nicolaus set a $60.00 target price on CLEAR Secure in a report on Thursday, May 7th. Wall Street Zen raised CLEAR Secure from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $60.00 price target (down from $65.00) on shares of CLEAR Secure in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.00.

CLEAR Secure Price Performance

Shares of NYSE:YOU opened at $55.92 on Monday. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 45.10 and a beta of 1.08. The company has a 50 day moving average of $55.62 and a 200-day moving average of $46.55. CLEAR Secure has a one year low of $28.06 and a one year high of $62.73.

CLEAR Secure (NYSE:YOU) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. CLEAR Secure had a net margin of 13.01% and a return on equity of 68.98%. The business had revenue of $253.00 million for the quarter, compared to analyst estimates of $244.38 million. During the same period in the prior year, the business posted $0.26 earnings per share. CLEAR Secure’s revenue was up 19.7% compared to the same quarter last year. Equities research analysts anticipate that CLEAR Secure will post 1.79 earnings per share for the current year.

Insider Transactions at CLEAR Secure

In other news, President Michael Z. Barkin sold 11,550 shares of CLEAR Secure stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $56.29, for a total value of $650,149.50. Following the sale, the president directly owned 22,994 shares in the company, valued at $1,294,332.26. This trade represents a 33.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Schlegel sold 4,412 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $59.02, for a total transaction of $260,396.24. The disclosure for this sale is available in the SEC filing. Insiders sold 23,962 shares of company stock valued at $1,360,146 in the last ninety days. 39.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CLEAR Secure

A number of large investors have recently modified their holdings of the business. Durable Capital Partners LP lifted its stake in CLEAR Secure by 153.1% in the second quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock valued at $207,932,000 after acquiring an additional 4,531,161 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of CLEAR Secure by 6,038.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,463,717 shares of the company’s stock worth $48,859,000 after purchasing an additional 1,439,873 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of CLEAR Secure by 4,573.0% in the 2nd quarter. Squarepoint Ops LLC now owns 929,033 shares of the company’s stock valued at $25,790,000 after purchasing an additional 909,152 shares during the period. Norges Bank bought a new stake in shares of CLEAR Secure in the 4th quarter valued at about $29,500,000. Finally, Jupiter Asset Management Ltd. lifted its stake in CLEAR Secure by 260.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 879,039 shares of the company’s stock valued at $30,837,000 after purchasing an additional 635,400 shares during the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

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.