Clear Secure

YOU · NYSE

$45.43+$0.25 (+0.55%)TodayMarket closed · Oct 20, 6:30 PM ET

Prev close $45.18

YOU analyst rating

BuyConsensus of 8 analysts over the last 12 months. 63% rate it a buy.

Strong buy0
Buy5
Hold2
Underperform1
Sell0

12-month price target · 8 analysts

Average $57.63 (+26.9% upside)

Low: $36.36
Now: $45.43
High: $78.75

Upgrades and downgrades

The latest rating actions, newest first

YOU analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
DA Davidson	Sep 11, 2026	Maintains	Neutral	$55.00 → $45.00	31%
JP Morgan	Aug 24, 2026	Initiates	Overweight	$55.00	27%
DA Davidson	Jul 28, 2026	Maintains	Neutral	$60.00 → $55.00	31%
Wells Fargo	May 7, 2026	Maintains	Underweight	$33.00 → $40.00	49%
DA Davidson	May 7, 2026	Downgrade	Buy → Neutral	$65.00 → $60.00	31%
Needham	May 6, 2026	Maintains	Buy	$60.00 → $70.00	51%
DA Davidson	Mar 26, 2026	Maintains	Buy	$54.00 → $65.00	31%
Needham	Mar 2, 2026	Maintains	Buy	$45.00 → $60.00	51%
JP Morgan	Feb 26, 2026	Maintains	Overweight	$42.00 → $47.00	61%
DA Davidson	Feb 26, 2026	Maintains	Buy	$46.00 → $54.00	31%

The case for and against

Updated Oct 14, 2026

Bull case

Clear Secure is viewed favorably because it has repeatedly delivered broad-based bookings beats, including 1Q’26 bookings of $291.7M, up 40.8% Y/Y and well above guidance, while active Clear Plus members rose 13.0% Y/Y to 8.2M and total member enrollments reached 41.0M. The company is also translating top-line momentum into stronger economics, with 1Q adj. EBITDA margin at 31.9%, operating cash flow of $190.3M, FCF of $185.5M, and 2026 FCF guided to at least $465M, up 35.5% Y/Y. The outlook is further supported by a growing Clear1 business, eGates at 43 airports with nationwide rollout on track by 2026, and added upside from corporate memberships and partner-driven growth.

Bear case

Clear Secure is facing a deteriorating demand backdrop because August 2026 TSA checkpoint volumes fell 4.4% year over year, and declining wait times from a 10.6-minute peak to a 7-9 minute range reduce the urgency for travelers to buy Clear+. The company’s airport growth engine is also being pressured by TSA Touchless ID expanding to 65 airports, creating a lower-cost substitute that could increase Clear+ churn as memberships renew, while Clear’s addressable U.S. runway looks limited with only about 15% of 35-40 million frequent travelers already subscribed. Although 1Q’26 bookings beat consensus by 16% and adjusted EBITDA margin rose 700 basis points to 31.9%, the outlook remains negative because growth depends heavily on continued travel strength, partner-driven sign-ups, and customer trust amid privacy and cyberattack concerns.

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