Identity verification company CLEAR Secure (NYSE: YOU) will be reporting results this Wednesday before the bell. Here’s what to look for.
CLEAR Secure beat analysts’ revenue expectations last quarter, reporting revenues of $240.8 million, up 16.7% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ revenue estimates.
Is CLEAR Secure a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CLEAR Secure’s revenue to grow 15.7% year on year, slowing from the 18.1% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CLEAR Secure has a history of exceeding Wall Street’s expectations.
Looking at CLEAR Secure’s peers in the data and analytics software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 84.7%, beating analysts’ expectations by 6.1%, and Commvault reported revenues up 13.3%, topping estimates by 1.6%. Commvault traded up 14.4% following the results.
Read our full analysis of Palantir Technologies’s results here and Commvault’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 11.6% on average over the last month. CLEAR Secure is up 8.6% during the same time and is heading into earnings with an average analyst price target of $55 (compared to the current share price of $56.25).
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