Chime Financial (NASDAQ:CHYM) Price Target Raised to $40.00

Chime Financial (NASDAQ:CHYM) had its target price hoisted by JPMorgan Chase & Co. from $35.00 to $40.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued research reports about the company. Morgan Stanley boosted their price objective on Chime Financial from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. BMO Capital Markets raised their target price on shares of Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Monness Crespi & Hardt began coverage on shares of Chime Financial in a research note on Monday, October 26th. They issued a “neutral” rating on the stock. Canaccord Genuity Group lifted their target price on shares of Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Finally, Barclays upped their price target on shares of Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, September 9th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.47.

Chime Financial Trading Up 3.8%

NASDAQ CHYM opened at $31.33 on Thursday. Chime Financial has a 1-year low of $15.88 and a 1-year high of $35.55. The stock has a 50-day moving average of $29.94 and a 200-day moving average of $23.90. The firm has a market cap of $11.86 billion, a PE ratio of 164.90 and a beta of 0.74.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, November 4th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Chime Financial had a return on equity of 6.87% and a net margin of 3.05%. The company had revenue of $718.00 million during the quarter. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The company’s revenue was up 32.1% compared to the same quarter last year. As a group, equities research analysts forecast that Chime Financial will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the transaction, the insider owned 405,663 shares of the company’s stock, valued at $13,248,953.58. This represents a 91.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 16,496,294 shares of company stock worth $543,320,549. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chime Financial

Hedge funds have recently made changes to their positions in the business. AMS Capital Ltda bought a new position in Chime Financial in the 1st quarter worth $3,439,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Chime Financial by 2,720.3% in the 1st 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. Arizona State Retirement System purchased a new stake in shares of Chime Financial in the 2nd quarter worth about $692,000. Hsbc Holdings PLC purchased a new stake in shares of Chime Financial in the 4th quarter worth about $1,274,000. Finally, Penn Mutual Asset Management bought a new stake in shares of Chime Financial during the 3rd quarter valued at about $6,711,000.

Chime Financial News Roundup

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Chime reported Q3 revenue growth of 32% year over year and earnings that beat analysts’ expectations. The quarter marked its third consecutive GAAP profit, with lending cited as a key growth driver. Q3 earnings results
• Positive Sentiment: Management forecast Q4 revenue of $757 million to $767 million, indicating continued growth. Q4 forecast and Stride deal update
• Positive Sentiment: Several firms raised their targets: Goldman Sachs to $43 and kept a Buy rating; JPMorgan to $40 with an Overweight rating; and Scotiabank to $44 with a Sector Outperform rating. Goldman Sachs rating JPMorgan rating Scotiabank rating
• Positive Sentiment: UBS also raised its target, from $31 to $34, though it maintained a Neutral rating. UBS rating
• Neutral Sentiment: Chime expects its Stride transaction to close in the first half of 2027; the deal adds a future milestone, but its completion remains ahead. Stride transaction update

About Chime Financial

Chime Financial operates a digital financial services platform for consumers in the United States. Through its mobile app, the company offers spending and savings accounts, debit cards and tools for managing money. Its products also include credit-building services and features designed to help customers access direct deposits and avoid certain common banking fees.

Founded in 2012 by Chris Britt and Ryan King, Chime is a financial technology company, not a bank. Banking services are provided through partner banks, including The Bancorp Bank, N.A., and Stride Bank, N.A.