Joshua Reilly, an analyst from Needham, maintained the Buy rating on Clear Secure. The associated price target remains the same with $45.00.
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Joshua Reilly has given his Buy rating due to a combination of factors surrounding Clear Secure’s recent achievements and future potential. A major reason for this positive outlook is Clear Secure’s new contract with Medicare.Gov, which is a significant milestone for the company. This partnership is set to enhance identity verification and fraud prevention for Medicare users, initially targeting new enrollees and eventually expanding to the entire Medicare population.
Moreover, the contract is structured as a multi-year platform fee, with the potential to evolve into a recurring revenue stream. This deal is not only the most substantial in terms of revenue and visibility for Clear Secure’s platform but also opens doors for further opportunities within the healthcare sector and with the US Federal government. These factors collectively contribute to the strong Buy rating from Joshua Reilly.
Reilly covers the Technology sector, focusing on stocks such as Veritone, Tyler Technologies, and Clear Secure. According to TipRanks, Reilly has an average return of 0.5% and a 41.67% success rate on recommended stocks.