Chime Financial, Inc. (NASDAQ:CHYM) Given Average Rating of “Moderate Buy” by Analysts

Chime Financial, Inc. (NASDAQ:CHYM) has received an average recommendation of “Moderate Buy” from the twenty-two research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, thirteen have given a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.65.

CHYM has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. UBS Group raised their target price on Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $33.00 to $27.00 in a research report on Monday, April 13th. BMO Capital Markets started coverage on Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price target for the company. Finally, Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th.

Chime Financial Price Performance

Shares of NASDAQ CHYM opened at $17.80 on Monday. The firm’s fifty day moving average is $19.94 and its 200 day moving average is $22.06. Chime Financial has a 52 week low of $16.17 and a 52 week high of $44.94. The company has a market cap of $6.78 billion and a price-to-earnings ratio of -2.40.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $647.39 million during the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. Chime Financial’s quarterly revenue was up 24.8% on a year-over-year basis. Equities research analysts anticipate that Chime Financial will post 0.29 earnings per share for the current year.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHYM. CTC Alternative Strategies Ltd. bought a new stake in Chime Financial in the first quarter valued at $798,000. NewEdge Advisors LLC raised its holdings in Chime Financial by 61.8% in the 1st quarter. NewEdge Advisors LLC now owns 28,780 shares of the company’s stock worth $539,000 after purchasing an additional 10,997 shares in the last quarter. Bank of America Corp DE raised its holdings in Chime Financial by 115.0% in the 1st quarter. Bank of America Corp DE now owns 319,579 shares of the company’s stock worth $5,986,000 after purchasing an additional 170,941 shares in the last quarter. Atreides Management LP lifted its position in shares of Chime Financial by 7.9% in the 1st quarter. Atreides Management LP now owns 1,622,734 shares of the company’s stock worth $30,394,000 after purchasing an additional 118,946 shares during the period. Finally, Spyglass Capital Management LLC purchased a new stake in shares of Chime Financial in the 1st quarter worth about $24,296,000.

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.