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Clear Secure, Tappit Announce Strategic Partnership

To bolster and diversify product offerings for entertainment, professional sports, colleges and retail sites, Clear Secure (YOU) and Tappit have entered into a strategic partnership.

While Clear Secure engages in the creation of frictionless travel experience, Tappit provides global payment and data ecosystems for sports, events and venues. (See Clear Secure stock charts on TipRanks)

“Clear Secure’s mobile identity verification platform with Tappit’s technology will soon offer clients a seamless experience for consumers to verify their identity and age for age-restricted purchases, like alcohol, all on their mobile phones and without handling cash or cards,” Clear said in a release.

The companies will together offer a range of touchless payment solutions to enhance the fan experience as stadia and other venues increase capacity limits.

The CEO of Tappit, Jason Thomas, said, “Our first priority at Tappit is to ensure a safe, frictionless experience for fans — allowing them to support their favorite teams or artists without worrying about spreading germs, or if their personal information is at risk.”

Last month, Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Clear Secure with a price target of $54 (upside potential of 26.6%). Devitt expects that the company will report a loss of $0.18 per share in the third quarter of 2021.

The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 2 Buys and 4 Holds. The average Clear Secure price target of $49.50 implies 16.1% upside potential. Shares of the company have gained 6.6% so far this year.

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