Chime Financial (NASDAQ:CHYM) Raised to Buy at Wall Street Zen

Chime Financial (NASDAQ:CHYM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Finally, Barclays assumed coverage on shares of Chime Financial in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $26.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chime Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

Chime Financial Stock Performance

Chime Financial stock opened at $20.69 on Friday. Chime Financial has a fifty-two week low of $15.88 and a fifty-two week high of $36.15. The company has a market capitalization of $7.88 billion and a price-to-earnings ratio of -2.78. The stock has a fifty day moving average of $19.12 and a two-hundred day moving average of $20.98.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $647.39 million for the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The business’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, analysts forecast that Chime Financial will post 0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Aspect Management LLC acquired a new stake in shares of Chime Financial in the fourth quarter worth approximately $300,361,000. Ashton Thomas Private Wealth LLC acquired a new position in Chime Financial during the fourth quarter worth approximately $129,091,000. Orland Properties Ltd acquired a new position in Chime Financial during the second quarter worth approximately $159,093,000. Scge Management L.P. purchased a new position in Chime Financial during the second quarter worth approximately $152,563,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Chime Financial by 2,720.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after purchasing an additional 2,658,816 shares during the period.

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.