Chime Financial, Inc. (NASDAQ:CHYM) Given Average Recommendation of “Moderate Buy” by Brokerages

Chime Financial, Inc. (NASDAQ:CHYM) has earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, fifteen have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $32.7368.

CHYM has been the subject of a number of research analyst reports. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Wells Fargo & Company increased their target price on Chime Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group lifted their price target on Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley boosted their price target on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. Finally, Barclays increased their price objective on Chime Financial from $26.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th.

Insider Activity

In other Chime Financial news, CEO Christopher Britt sold 200,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $32.04, for a total value of $6,408,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the transaction, the insider owned 369,370 shares in the company, valued at approximately $12,203,984.80. The trade was a 75.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,882,790 shares of company stock valued at $451,079,723 in the last quarter. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chime Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. PNC Financial Services Group Inc. acquired a new stake in shares of Chime Financial during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new position in Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the second quarter worth about $34,000. Caitong International Asset Management Co. Ltd lifted its position in Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after purchasing an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in Chime Financial during the second quarter worth about $40,000.

Chime Financial Price Performance

CHYM stock opened at $33.76 on Wednesday. Chime Financial has a one year low of $15.88 and a one year high of $34.44. The stock has a market cap of $12.78 billion, a price-to-earnings ratio of -482.22 and a beta of 0.60. The company has a fifty day moving average price of $26.49 and a two-hundred day moving average price of $22.06.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating 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 company had revenue of $669.77 million for the quarter. During the same period in the previous year, the company earned ($7.29) earnings per share. Chime Financial’s revenue for the quarter was up 26.8% compared to the same quarter last year. Research analysts anticipate that Chime Financial will post 0.41 EPS for the current fiscal year.

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.