Chime Financial (NASDAQ:CHYM) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Chime Financial (NASDAQ:CHYM) in a research report sent to investors on Wednesday, MarketBeat reports. The firm issued an overweight rating and a $26.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and cut their price target for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. BMO Capital Markets assumed coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.65.

Chime Financial Stock Down 0.7%

NASDAQ:CHYM opened at $20.98 on Wednesday. The business’s 50-day moving average price is $18.63 and its two-hundred day moving average price is $21.35. Chime Financial has a twelve month low of $15.88 and a twelve month high of $38.67. The stock has a market cap of $7.99 billion and a P/E ratio of -2.82.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS 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 return on equity of 67.86% and a negative net margin of 41.87%.Chime Financial’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts expect that Chime Financial will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $17.50, for a total value of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares of the company’s stock, valued at $5,316,412.50. The trade was a 0.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Chime Financial

Institutional investors have recently made changes to their positions in the stock. Tiger Global Management LLC raised its holdings in Chime Financial by 13.8% during the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock valued at $357,225,000 after buying an additional 1,721,731 shares during the last quarter. Aspect Management LLC bought a new stake in shares of Chime Financial in the fourth quarter worth about $300,361,000. Capital Research Global Investors increased its holdings in Chime Financial by 90.0% during the 3rd quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock valued at $138,730,000 after purchasing an additional 3,258,179 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Chime Financial during the 4th quarter valued at approximately $129,091,000. Finally, Orland Properties Ltd bought a new position in Chime Financial during the 2nd quarter valued at approximately $159,093,000.

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.