Chime Financial, Inc. (NASDAQ:CHYM) Receives $31.06 Average PT from Analysts

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have received a consensus rating of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, fourteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $31.0556.

A number of research firms recently commented on CHYM. Piper Sandler lifted their target price on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley upped their price target on shares of Chime Financial from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. B. Riley Financial raised their price target on shares of Chime Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 6th.

Chime Financial Stock Performance

Chime Financial stock opened at $32.02 on Friday. The stock has a market cap of $12.20 billion, a PE ratio of -457.36 and a beta of 0.31. The stock has a 50-day moving average of $21.87 and a two-hundred day moving average of $21.02. Chime Financial has a one year low of $15.88 and a one year high of $33.41.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The business had revenue of $669.77 million for the quarter. During the same quarter in the previous year, the firm posted ($7.29) EPS. Chime Financial’s revenue was up 26.8% on a year-over-year basis. As a group, sell-side analysts predict that Chime Financial will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Matthew S. Newcomb sold 65,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $30.17, for a total value of $1,961,050.00. Following the transaction, the chief financial officer directly owned 2,216,070 shares of the company’s stock, valued at approximately $66,858,831.90. This represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ryan A. King sold 375,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $30.27, for a total value of $11,351,250.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,653,521 shares of company stock worth $116,359,457 over the last three months. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Chime Financial

A number of large investors have recently bought and sold shares of CHYM. PNC Financial Services Group Inc. acquired a new position in Chime Financial in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial during the 2nd quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Chime Financial in the 2nd quarter valued at $40,000.

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.