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

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have received a consensus recommendation of “Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have issued a buy recommendation and five have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $29.3125.

Several research analysts recently weighed in on CHYM shares. Wells Fargo & Company lifted their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. BMO Capital Markets assumed coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price objective on the stock. Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Barclays started coverage on shares of Chime Financial in a report on Wednesday, July 8th. They set an “overweight” rating and a $26.00 target price for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research note on Monday, May 11th.

Insiders Place Their Bets

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 approximately $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Chime Financial

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC acquired a new position in Chime Financial in the 2nd quarter worth about $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial in the second quarter valued at approximately $34,000. PNC Financial Services Group Inc. acquired a new stake in Chime Financial in the fourth quarter valued at approximately $25,000. Daiwa Securities Group Inc. purchased a new stake in shares of Chime Financial in the second quarter valued at approximately $40,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of Chime Financial in the second quarter valued at approximately $45,000.

Chime Financial Stock Performance

Shares of CHYM opened at $21.93 on Tuesday. The business’s 50-day moving average is $18.83 and its two-hundred day moving average is $21.07. The company has a market capitalization of $8.36 billion and a P/E ratio of -2.95. Chime Financial has a fifty-two week low of $15.88 and a fifty-two week high of $38.67.

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. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The business had revenue of $647.39 million during the quarter. Chime Financial’s revenue was up 24.8% on a year-over-year basis. Analysts forecast that Chime Financial will post 0.3 EPS for the current year.

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.