Chime Financial, Inc. (NASDAQ:CHYM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have received an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, thirteen have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $31.65.

CHYM has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a report on Monday, May 11th. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and cut their price target for the stock from $33.00 to $27.00 in a report on Monday, April 13th. BMO Capital Markets initiated coverage on shares of Chime Financial in a report on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target on the stock. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Finally, Texas Capital raised shares of Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th.

Insider Transactions at Chime Financial

In other 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 transaction of $52,500.00. Following the completion of the sale, the general counsel directly owned 303,795 shares in the company, 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 SEC, which is accessible through the SEC website. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Chime Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial during the second quarter worth $33,000. Scopus Asset Management L.P. purchased a new position in shares of Chime Financial during the second quarter worth $34,000. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial during the fourth quarter worth $25,000. Daiwa Securities Group Inc. purchased a new position in shares of Chime Financial during the second quarter worth $40,000. Finally, Osaic Holdings Inc. purchased a new position in shares of Chime Financial during the second quarter worth $45,000.

Chime Financial Trading Up 5.1%

CHYM opened at $18.27 on Friday. The firm has a market cap of $6.96 billion and a price-to-earnings ratio of -2.46. Chime Financial has a 12 month low of $15.88 and a 12 month high of $38.67. The stock has a fifty day moving average price of $19.06 and a 200-day moving average price of $21.63.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $647.39 million during the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.Chime Financial’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research 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.