Analysts Set Chime Financial, Inc. (NASDAQ:CHYM) PT at $31.65

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have been given a consensus recommendation of “Moderate Buy” by the twenty-two ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.65.

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 target price on shares of Chime Financial in a research note on Monday, May 11th. KeyCorp initiated 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 for the company. BMO Capital Markets initiated coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 target price for the company. Finally, Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th.

Chime Financial Price Performance

Shares of NASDAQ CHYM opened at $18.60 on Monday. The firm has a fifty day moving average price of $19.71 and a 200-day moving average price of $22.01. The stock has a market cap of $7.09 billion and a PE ratio of -2.50. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The firm had revenue of $647.39 million during the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. Chime Financial’s revenue was up 24.8% compared to the same quarter last year. On average, research analysts expect that Chime Financial will post 0.3 EPS for the current year.

Hedge Funds Weigh In On Chime Financial

Several institutional investors have recently bought and sold shares of CHYM. JPMorgan Chase & Co. purchased a new position in Chime Financial during the second quarter valued at $693,000. Legal & General Group Plc purchased a new position in Chime Financial during the second quarter valued at $136,000. Russell Investments Group Ltd. purchased a new position in Chime Financial during the second quarter valued at $958,000. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the second quarter valued at $33,000. Finally, Marshall Wace LLP purchased a new position in Chime Financial during the second quarter valued at $9,087,000.

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.