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

Chime Financial (NASDAQ:CHYM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Other analysts have also issued research reports about the company. Barclays started coverage on Chime Financial in a report on Wednesday. They set an “overweight” rating and a $26.00 target price on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $33.00 to $27.00 in a research note on Monday, April 13th. BMO Capital Markets assumed coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 target price for the company. Finally, Texas Capital raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Five research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chime Financial currently has an average rating of “Moderate Buy” and an average target price of $29.65.

Chime Financial Trading Down 1.8%

Shares of NASDAQ CHYM traded down $0.39 during midday trading on Friday, reaching $20.92. The company’s stock had a trading volume of 3,488,087 shares, compared to its average volume of 5,644,434. Chime Financial has a fifty-two week low of $15.88 and a fifty-two week high of $38.67. The stock has a market capitalization of $7.97 billion and a price-to-earnings ratio of -2.82. The stock has a 50 day simple moving average of $18.61 and a 200-day simple moving average of $21.31.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $647.39 million for 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. As a group, equities analysts anticipate that Chime Financial will post 0.3 EPS for the current year.

Insider Activity

In related news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction dated 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 owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. The trade was a 0.98% decrease in their position. The sale 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 hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in shares of Chime Financial during the second quarter worth approximately $693,000. Legal & General Group Plc bought a new position in shares of Chime Financial during the second quarter worth approximately $136,000. Russell Investments Group Ltd. acquired a new stake in Chime Financial during the 2nd quarter worth approximately $958,000. EverSource Wealth Advisors LLC bought a new stake in Chime Financial in the 2nd quarter valued at $33,000. Finally, Marshall Wace LLP bought a new stake in Chime Financial in the 2nd quarter valued at $9,087,000.

Chime Financial Company Profile

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.