Chime Financial (NASDAQ:CHYM) Price Target Raised to $37.00

Chime Financial (NASDAQ:CHYM) had its price target increased by The Goldman Sachs Group from $33.00 to $37.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Zacks Research raised Chime Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings raised shares of Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd. Morgan Stanley increased their price target on shares of Chime Financial from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Finally, Rothschild & Co Redburn upgraded shares of Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chime Financial has a consensus rating of “Buy” and an average target price of $36.40.

Chime Financial Stock Down 1.7%

Chime Financial stock opened at $30.72 on Tuesday. The firm has a market cap of $11.63 billion, a P/E ratio of -438.79 and a beta of 0.60. The business has a fifty day moving average of $28.63 and a two-hundred day moving average of $22.82. Chime Financial has a twelve month low of $15.88 and a twelve month high of $35.55.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($7.29) earnings per share. Equities analysts expect that Chime Financial will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the transaction, the insider directly owned 405,663 shares of the company’s stock, valued at $13,248,953.58. This represents a 91.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 18,827,490 shares of company stock worth $617,797,141. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Chime Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AMS Capital Ltda purchased a new position in shares of Chime Financial in the first quarter worth $3,439,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Chime Financial by 2,720.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after buying an additional 2,658,816 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Chime Financial during the fourth quarter worth $1,274,000. Brown University grew 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 valued at $3,833,000 after buying an additional 101,820 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Chime Financial by 115.0% during 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.

Trending Headlines about Chime Financial

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

• Positive Sentiment: Analyst support remains strong: Goldman Sachs raised its price target to $37, while B. Riley increased its target to $44. Rothschild & Co Redburn also upgraded CHYM to “Buy” and reportedly set a $46 target, signaling continued confidence in Chime’s growth prospects. Goldman Sachs raises Chime price target B. Riley raises Chime price target Rothschild upgrades Chime
• Positive Sentiment: Bank acquisition provides long-term upside: Chime agreed to acquire Central Service Corporation, parent of Stride Bank, for $590 million in cash. Subject to regulatory approval, the deal would give Chime greater control of its banking infrastructure and potentially improve long-term economics, although integration and capital requirements remain important considerations. Chime bank acquisition analysis
• Positive Sentiment: Recent operating trends are favorable: Chime’s latest quarterly results included 26.8% year-over-year revenue growth, $0.07 in earnings per share versus a $0.01 loss estimate, and revenue of approximately $670 million. The company also reported 10.4 million active members and raised its full-year outlook.
• Neutral Sentiment: New York office opening: The new office expands Chime’s corporate footprint but is unlikely to materially affect near-term earnings or valuation. Chime opens New York office
• Negative Sentiment: Heavy insider and shareholder selling is weighing on sentiment: Director James Feuille sold 352,237 shares in two reported transactions worth about $11.6 million, General Counsel Adam Frankel sold roughly $3.4 million of stock, and Global Advisors Ltd. DST sold 3.2 million shares for approximately $109.3 million, reducing its position by 90.5%. Some sales were made under pre-arranged plans, but the lack of reported open-market purchases and the scale of selling can reinforce profit-taking concerns. Chime insider selling report
• Negative Sentiment: Investors are reassessing the acquisition and valuation: Regulatory approval, integration costs and capital needs could delay or reduce the benefits of the Stride transaction. Following the recent run-up, those uncertainties have contributed to increased volatility and a pullback in CHYM.

About Chime Financial

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.