Chime Financial (NASDAQ:CHYM) Price Target Raised to $38.00

Chime Financial (NASDAQ:CHYM) had its target price hoisted by Wolfe Research from $32.00 to $38.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings downgraded Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. Piper Sandler upped their target price on Chime Financial from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Wells Fargo & Company increased their price target on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their price target on Chime Financial from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Chime Financial Price Performance

Shares of CHYM stock opened at $33.36 on Tuesday. The firm has a 50-day moving average of $24.66 and a 200-day moving average of $21.54. The company has a market cap of $12.63 billion, a P/E ratio of -476.50 and a beta of 0.31. Chime Financial has a one year low of $15.88 and a one year high of $33.97.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business had revenue of $669.77 million for the quarter. During the same quarter last year, the firm posted ($7.29) earnings per share. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, research analysts expect that Chime Financial will post 0.41 earnings per share for the current fiscal year.

Insider Transactions at Chime Financial

In related news, major shareholder Global Advisors Ltd Dst sold 80,914 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $33.06, for a total transaction of $2,675,016.84. Following the completion of the sale, the insider owned 380,298 shares in the company, valued at approximately $12,572,651.88. This trade represents a 17.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 12,414,123 shares of company stock worth $402,655,966 in the last three months. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. EverSource Wealth Advisors LLC bought a new position in shares of Chime Financial during the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in shares of Chime Financial in the 2nd quarter worth approximately $34,000. PNC Financial Services Group Inc. bought a new stake in shares of Chime Financial in the 4th quarter worth approximately $25,000. Daiwa Securities Group Inc. purchased a new position in Chime Financial in the second quarter valued at approximately $40,000. Finally, Osaic Holdings Inc. purchased a new position in Chime Financial in the second quarter valued at approximately $45,000.

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.