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

Chime Financial, Inc. (NASDAQ:CHYM) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $32.2778.

A number of research firms have weighed in on CHYM. KeyCorp started coverage on shares of Chime Financial in a research note on Wednesday, March 4th. They set an “overweight” rating and a $30.00 target price on the stock. Rothschild & Co Redburn upgraded Chime Financial to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. The Goldman Sachs Group boosted their price objective on Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, UBS Group increased their target price on Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th.

Chime Financial Trading Down 3.4%

Shares of Chime Financial stock opened at $19.65 on Wednesday. The firm has a market capitalization of $7.55 billion and a PE ratio of -2.60. The firm’s 50 day moving average is $23.27 and its 200 day moving average is $22.48. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. The business had revenue of $596.36 million during the quarter. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. Chime Financial’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.30) earnings per share.

Insider Transactions at Chime Financial

In other news, CEO Christopher R. Britt sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Adam B. Frankel sold 4,382 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $27.29, for a total transaction of $119,584.78. Following the completion of the transaction, the general counsel owned 209,500 shares of the company’s stock, valued at approximately $5,717,255. This trade represents a 2.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 64,882 shares of company stock worth $1,816,685.

Hedge Funds Weigh In On Chime Financial

Several large investors have recently modified their holdings of CHYM. Hsbc Holdings PLC bought a new position in shares of Chime Financial during the fourth quarter valued at $1,274,000. Vident Advisory LLC bought a new stake in shares of Chime Financial in the fourth quarter worth $645,000. Delta Global Management LP grew its stake in shares of Chime Financial by 1,868.5% in the fourth quarter. Delta Global Management LP now owns 729,383 shares of the company’s stock worth $18,359,000 after purchasing an additional 692,330 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Chime Financial by 8,791.5% in the fourth quarter. NewEdge Advisors LLC now owns 17,783 shares of the company’s stock valued at $448,000 after purchasing an additional 17,583 shares during the period. Finally, VARCOV Co. acquired a new stake in Chime Financial in the fourth quarter valued at $1,348,000.

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.