CLEAR Secure (NYSE:YOU) Stock Rating Lowered by Zacks Research

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

A number of other research firms have also weighed in on YOU. Weiss Ratings upgraded CLEAR Secure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $60.00 price target on CLEAR Secure in a research report on Thursday, May 7th. Telsey Advisory Group boosted their price target on CLEAR Secure from $62.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Wall Street Zen upgraded CLEAR Secure from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Needham & Company LLC raised their price objective on shares of CLEAR Secure from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, CLEAR Secure currently has an average rating of “Hold” and a consensus target price of $60.00.

CLEAR Secure Trading Down 1.4%

Shares of NYSE:YOU opened at $55.92 on Monday. CLEAR Secure has a twelve month low of $28.06 and a twelve month high of $62.73. The company has a market cap of $7.46 billion, a PE ratio of 45.10 and a beta of 1.08. The company’s 50 day moving average is $55.62 and its 200 day moving average is $46.55.

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

Insider Activity

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

Institutional Investors Weigh In On CLEAR Secure

A number of hedge funds have recently modified their holdings of the business. Durable Capital Partners LP lifted its stake in shares of CLEAR Secure by 153.1% in the second quarter. Durable Capital Partners LP now owns 7,490,351 shares of the company’s stock worth $207,932,000 after buying an additional 4,531,161 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in 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 valued at $48,859,000 after acquiring an additional 1,439,873 shares in the last quarter. Squarepoint Ops LLC raised its holdings in 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 acquiring an additional 909,152 shares during the last quarter. Norges Bank acquired a new stake in 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 worth $30,837,000 after purchasing an additional 635,400 shares in the last quarter. 73.80% of the stock is currently owned by institutional investors and hedge funds.

About CLEAR Secure

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.