Chime Financial (NASDAQ:CHYM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Chime Financial (NASDAQ:CHYM) had its target price hoisted by equities researchers at Morgan Stanley from $33.00 to $39.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 24.01% from the company’s previous close.

A number of other analysts have also weighed in on CHYM. B. Riley Financial raised their target price on shares of Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods upped their price target on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Freedom Capital upgraded Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings raised Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Finally, Piper Sandler boosted their price objective on Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.39.

Chime Financial Trading Down 1.8%

CHYM opened at $31.45 on Tuesday. The company’s 50 day moving average is $22.15 and its 200-day moving average is $21.01. Chime Financial has a 1-year low of $15.88 and a 1-year high of $33.41. The company has a market cap of $11.91 billion, a P/E ratio of -449.22 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the firm posted ($7.29) earnings per share. On average, equities analysts forecast that Chime Financial will post 0.39 EPS for the current year.

Insider Activity

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 524,661 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $32.18, for a total transaction of $16,883,590.98. Following the sale, the insider directly owned 450,640 shares of the company’s stock, valued at $14,501,595.20. The trade was a 53.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew S. Newcomb sold 65,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $30.17, for a total transaction of $1,961,050.00. Following the completion of the sale, the chief financial officer directly owned 2,216,070 shares in the company, valued at approximately $66,858,831.90. This represents a 2.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 4,891,471 shares of company stock worth $156,168,157. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in shares of Chime Financial in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new position in shares of Chime Financial during the second quarter valued at about $34,000. Caitong International Asset Management Co. Ltd raised its stake in Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after buying an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Chime Financial in the second quarter worth about $40,000.

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.