Chime Financial, Inc. (NASDAQ:CHYM) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have earned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $32.25.

Several equities analysts have commented on CHYM shares. Jefferies Financial Group assumed coverage on Chime Financial in a research report on Monday, November 3rd. They issued a “hold” rating and a $17.00 target price for the company. Arete Research raised shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, September 30th. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research report on Thursday, October 30th. Piper Sandler cut their price target on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 1st.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $25.50, for a total transaction of $25,500.00. Following the completion of the transaction, the general counsel directly owned 252,416 shares in the company, valued at $6,436,608. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Feuille sold 7,229 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $24.82, for a total value of $179,423.78. Following the completion of the sale, the director owned 7,037,707 shares in the company, valued at $174,675,887.74. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 191,657 shares of company stock valued at $5,157,258.

Hedge Funds Weigh In On Chime Financial

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of Chime Financial during the second quarter valued at about $9,519,000. Norges Bank acquired a new position in Chime Financial during the 2nd quarter worth approximately $24,157,000. Seven Grand Managers LLC bought a new position in Chime Financial in the second quarter worth approximately $3,451,000. Franklin Resources Inc. acquired a new stake in Chime Financial in the second quarter valued at approximately $24,157,000. Finally, HMI Capital Management L.P. bought a new stake in shares of Chime Financial during the second quarter valued at approximately $43,853,000.

Chime Financial Stock Up 0.4%

CHYM stock opened at $26.63 on Friday. The stock’s 50 day moving average is $21.18. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.10. The company had revenue of $543.52 million for the quarter. During the same period in the previous year, the business earned ($0.34) EPS. The business’s quarterly revenue was up 28.8% on a year-over-year basis.

Chime Financial Company Profile

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.