The Goldman Sachs Group Issues Positive Forecast for Chime Financial (NASDAQ:CHYM) Stock Price

Chime Financial (NASDAQ:CHYM) had its price objective hoisted by research analysts at The Goldman Sachs Group from $33.00 to $37.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 11.23% from the stock’s previous close.

CHYM has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 25th. B. Riley Financial lifted their target price on Chime Financial from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. UBS Group boosted their target price on shares of Chime Financial from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, BMO Capital Markets lifted their price objective on shares of Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chime Financial presently has an average rating of “Buy” and a consensus target price of $36.40.

Chime Financial Price Performance

Shares of NASDAQ:CHYM traded down $0.71 during trading hours on Tuesday, hitting $33.26. The company’s stock had a trading volume of 2,780,594 shares, compared to its average volume of 5,395,899. The firm’s fifty day moving average price is $27.98 and its 200 day moving average price is $22.62. Chime Financial has a 52 week low of $15.88 and a 52 week high of $35.55. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of -475.46 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data 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 business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($7.29) earnings per share. On average, equities research analysts predict that Chime Financial will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chime Financial news, Director Shawn Carolan sold 277,007 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $33.05, for a total transaction of $9,155,081.35. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ryan King sold 42,421 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $35.15, for a total transaction of $1,491,098.15. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,949,549 shares of company stock worth $486,663,009 over the last ninety days. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chime Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. AMS Capital Ltda acquired a new stake in Chime Financial during the 1st quarter worth about $3,439,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Chime Financial by 2,720.3% in the first 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 last quarter. Hsbc Holdings PLC acquired a new stake in shares of Chime Financial during the fourth quarter worth about $1,274,000. Brown University lifted its holdings in shares of Chime Financial by 99.0% during the first quarter. Brown University now owns 204,625 shares of the company’s stock worth $3,833,000 after purchasing an additional 101,820 shares during the period. Finally, Bank of America Corp DE boosted its position in Chime Financial by 115.0% in the first quarter. Bank of America Corp DE now owns 319,579 shares of the company’s stock valued at $5,986,000 after buying an additional 170,941 shares during the last quarter.

Key Stories Impacting Chime Financial

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

• Positive Sentiment: Analysts raised ratings and price targets: Rothschild & Co Redburn upgraded Chime to “buy” and set a $46 target, while B. Riley raised its target from $37 to $44 and maintained a “buy” rating. The new targets imply meaningful upside from the recent $33 area and reinforce confidence in Chime’s growth outlook.
• Positive Sentiment: Recent operating results remain encouraging: Chime’s latest quarterly revenue increased 26.8% year over year to $669.77 million, while earnings of $0.07 per share exceeded the consensus estimate for a loss. Analysts expect approximately $0.44 in full-year earnings per share.
• Neutral Sentiment: Shares remain near their annual peak: CHYM recently traded around $33, compared with a 52-week high of $35.55. The stock is well above its 50-day moving average of $27.98 and 200-day moving average of $22.62, indicating strong momentum but also leaving it vulnerable to profit-taking.
• Negative Sentiment: Multiple directors sold significant positions: Shawn T. Carolan sold 302,306 shares for approximately $10.0 million and another 277,007 shares for about $9.2 million, leaving only 1,800 shares in one reported holding. James Feuille sold 258,398 shares worth roughly $8.5 million and an additional 93,492 shares for about $3.1 million. Cynthia Marshall sold 20,000 shares valued at approximately $661,800, reducing her position by 41.2%. The transactions were disclosed in SEC insider-trading filing and SEC filing. Although these may reflect diversification or planned selling, their size can pressure investor sentiment.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.