Needham analyst Joshua Reilly maintained a Buy rating on Clear Secure today and set a price target of $45.00.
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Joshua Reilly has given his Buy rating due to a combination of factors including Clear Secure’s strong financial performance and strategic positioning. The company reported better-than-expected third-quarter results, surpassing revenue and earnings per share estimates. A significant factor contributing to this positive outlook is the progress in renegotiating their contract with American Express, which is expected to enhance their offerings and potentially increase average revenue per user.
Additionally, Clear Secure’s ability to maintain customer satisfaction and stable retention rates, even amidst price hikes, supports a favorable growth trajectory. The company’s strategic alignment with American Express, particularly through the inclusion of Clear as a key feature in the Amex Platinum card, is anticipated to drive further growth. This combination of strong financial results, strategic partnerships, and customer retention underpins the Buy rating recommendation.
According to TipRanks, Reilly is a 3-star analyst with an average return of 2.2% and a 44.49% success rate. Reilly covers the Technology sector, focusing on stocks such as Jamf Holding, HubSpot, and Paycom.
In another report released on October 31, Telsey Advisory also maintained a Buy rating on the stock with a $37.00 price target.