Chime Financial (NASDAQ:CHYM) Raised to “Buy” at The Goldman Sachs Group

Chime Financial (NASDAQ:CHYM) was upgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $27.00 price target on the stock, up from their prior price target of $26.00. The Goldman Sachs Group’s price target indicates a potential upside of 23.34% from the stock’s previous close.

Other research analysts have also issued reports about the company. William Blair reissued an “outperform” rating on shares of Chime Financial in a report on Tuesday, September 30th. Arete Research upgraded Chime Financial to a “strong-buy” rating in a research report on Tuesday, September 30th. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price target on shares of Chime Financial in a research report on Thursday, October 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Chime Financial from $42.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Chime Financial in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.07.

Chime Financial Price Performance

NASDAQ:CHYM opened at $21.89 on Monday. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94. The business’s fifty day moving average is $19.55.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million during the quarter. Chime Financial’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) earnings per share.

Hedge Funds Weigh In On Chime Financial

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the second quarter worth approximately $33,000. Scopus Asset Management L.P. acquired a new position in shares of Chime Financial during the 2nd quarter worth approximately $34,000. Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial during the 2nd quarter worth approximately $40,000. Osaic Holdings Inc. purchased a new position in shares of Chime Financial during the 2nd quarter valued at approximately $45,000. Finally, Farther Finance Advisors LLC acquired a new stake in Chime Financial in the 3rd quarter valued at $50,000.

About Chime Financial

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.