Chime Financial (NASDAQ:CHYM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Chime Financial (NASDAQ:CHYM) from a buy rating to a hold rating in a research report report published on Saturday morning.

CHYM has been the subject of a number of other reports. UBS Group boosted their target price on Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. The Goldman Sachs Group lifted their price objective on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. KeyCorp started coverage on Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company. Rothschild & Co Redburn raised Chime Financial to a “hold” rating in a research note on Monday, January 26th. Finally, Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial currently has a consensus rating of “Moderate Buy” and an average target price of $32.28.

Chime Financial Stock Performance

CHYM opened at $19.24 on Friday. The firm’s fifty day moving average is $21.16 and its two-hundred day moving average is $21.98. The firm has a market cap of $7.39 billion and a PE ratio of -2.54. Chime Financial has a twelve month low of $16.17 and a twelve month high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The company had revenue of $596.36 million during the quarter. During the same period last year, the firm earned ($0.30) EPS. Chime Financial’s quarterly revenue was up 25.5% on a year-over-year basis.

Insider Buying and Selling at Chime Financial

In other news, General Counsel Adam B. Frankel sold 4,382 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $27.29, for a total value of $119,584.78. Following the sale, the general counsel directly owned 209,500 shares in the company, valued at $5,717,255. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew S. Newcomb sold 10,000 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.01, for a total value of $280,100.00. Following the transaction, the chief financial officer directly owned 2,240,798 shares of the company’s stock, valued at $62,764,751.98. This represents a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,882 shares of company stock valued at $1,816,685 in the last 90 days.

Hedge Funds Weigh In On Chime Financial

A number of large investors have recently bought and sold shares of CHYM. Norges Bank bought a new position in shares of Chime Financial during the 2nd quarter worth approximately $24,157,000. Federated Hermes Inc. lifted its position in shares of Chime Financial by 11.1% in the third quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock worth $17,421,000 after purchasing an additional 86,593 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Chime Financial by 1,203.2% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 81,450 shares of the company’s stock worth $1,643,000 after purchasing an additional 75,200 shares during the last quarter. HMI Capital Management L.P. acquired a new position in Chime Financial during the second quarter worth $43,853,000. Finally, Dragoneer Investment Group LLC bought a new position in Chime Financial in the second quarter valued at $295,022,000.

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.