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

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and five have issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $29.6471.

A number of equities analysts recently commented on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $33.00 to $27.00 in a report on Monday, April 13th. Barclays began coverage on Chime Financial in a research note on Wednesday, July 8th. They set an “overweight” rating and a $26.00 price objective on the stock. Texas Capital raised Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Finally, Wells Fargo & Company lifted their target price on Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th.

Chime Financial Price Performance

Shares of CHYM stock opened at $20.95 on Tuesday. The firm has a market cap of $7.98 billion and a P/E ratio of -2.82. Chime Financial has a 1-year low of $15.88 and a 1-year high of $38.67. The firm has a fifty day moving average of $18.60 and a two-hundred day moving average of $21.23.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The company 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. On average, sell-side analysts expect that Chime Financial will post 0.3 EPS for the current year.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the transaction, the general counsel owned 303,795 shares of the company’s stock, valued at $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.30% of the stock is owned by company insiders.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Lunate Capital Ltd bought a new stake in shares of Chime Financial during the 3rd quarter valued at about $36,503,000. Davis Selected Advisers acquired a new stake in Chime Financial during the third quarter worth about $48,391,000. Farther Finance Advisors LLC lifted its holdings in Chime Financial by 2,794.6% in the fourth quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock worth $1,821,000 after acquiring an additional 69,866 shares during the last quarter. Transcend Capital Advisors LLC bought a new position in Chime Financial in the fourth quarter worth about $1,286,000. Finally, Baxter Bros Inc. acquired a new position in Chime Financial in the fourth quarter valued at approximately $2,799,000.

About Chime Financial

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.