Clear Secure price target raised to $24 from $19 at Loop Capital

Loop Capital analyst Mark Schappel raised the firm’s price target on Clear Secure to $24 from $19 and keeps a Hold rating on the shares after its Q2 results. The company exited its June quarter strong as revenue, bookings, and adjusted EBITDA margins came in ahead of expectations, the analyst tells investors in a research note. Drivers in the quarter include refocusing airport field operations on new member adds rather than NextGen ID upgrades, incremental PreCheck contributions, and the ongoing shift to digital identity, the firm added.