Clear Secure (NYSE:YOU) Reaches New 12-Month High After Strong Earnings

Clear Secure, Inc. (NYSE:YOU)’s stock price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $25.24 and last traded at $25.22, with a volume of 685920 shares. The stock had previously closed at $24.18.

The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. Clear Secure had a return on equity of 20.62% and a net margin of 7.90%. The firm had revenue of $186.75 million for the quarter, compared to analyst estimates of $183.78 million. During the same period last year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis.

Clear Secure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. Clear Secure’s payout ratio is 71.43%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Clear Secure in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $21.00 price target on shares of Clear Secure in a research note on Wednesday, May 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $34.00 target price on shares of Clear Secure in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.40.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Montag A & Associates Inc. acquired a new stake in shares of Clear Secure during the 1st quarter worth approximately $26,000. Quarry LP lifted its position in shares of Clear Secure by 86.4% during the 4th quarter. Quarry LP now owns 2,509 shares of the company’s stock worth $52,000 after buying an additional 1,163 shares during the period. CWM LLC lifted its position in shares of Clear Secure by 968.0% during the 2nd quarter. CWM LLC now owns 7,252 shares of the company’s stock worth $136,000 after buying an additional 6,573 shares during the period. nVerses Capital LLC bought a new position in shares of Clear Secure during the 2nd quarter worth approximately $137,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Clear Secure by 108.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 7,545 shares of the company’s stock worth $156,000 after buying an additional 3,928 shares during the period. 73.80% of the stock is owned by institutional investors.

Clear Secure Stock Performance

The firm has a market cap of $3.70 billion, a P/E ratio of 43.18 and a beta of 1.58. The company has a 50-day moving average of $19.19 and a 200 day moving average of $18.99.

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.