Clear Secure price target raised to $45 from $40 at Needham

Needham raised the firm’s price target on Clear Secure to $45 from $40 and keeps a Buy rating on the shares. The company’s Q3 bookings guidance is more conservative than the first two quarters of 2024, and should drive greater beats to bookings vs. the first half of the year, the analyst tells investors in a research note. Needham adds that it expects Q3 bookings growth to be closer to 17.5%-18.0% vs. guidance of 15.3% at mid-point, or possibly higher if trial conversions are stronger than expected.