Chime Financial (NASDAQ:CHYM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Chime Financial (NASDAQ:CHYM) from a hold rating to a buy rating in a report issued on Saturday.

Several other brokerages have also issued reports on CHYM. KeyCorp began coverage on Chime Financial in a report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 price target for the company. UBS Group increased their price objective on Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Rothschild & Co Redburn began coverage on shares of Chime Financial in a research report on Monday, January 26th. They set a “neutral” rating and a $29.00 price objective on the stock. B. Riley Financial assumed coverage on shares of Chime Financial in a research report on Thursday, December 11th. They issued a “buy” rating and a $35.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.28.

Chime Financial Trading Up 1.8%

Shares of NASDAQ:CHYM opened at $22.63 on Friday. The firm has a market cap of $8.48 billion and a price-to-earnings ratio of -2.99. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94. The business has a fifty day simple moving average of $23.88 and a 200 day simple moving average of $22.72.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, February 25th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.35% and a negative net margin of 46.18%.The firm had revenue of $596.36 million for the quarter. During the same quarter last year, the firm earned ($0.30) EPS. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year.

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 4,382 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $27.29, for a total transaction of $119,584.78. Following the completion of the sale, the general counsel owned 209,500 shares of the company’s stock, valued at $5,717,255. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew S. Newcomb sold 10,000 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.01, for a total value of $280,100.00. Following the transaction, the chief financial officer owned 2,240,798 shares in the company, valued at approximately $62,764,751.98. This trade represents a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 249,779 shares of company stock valued at $6,812,785 in the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Chime Financial in the 2nd quarter worth $217,000. Geode Capital Management LLC bought a new stake in Chime Financial during the second quarter valued at about $9,519,000. Greenland Capital Management LP acquired a new stake in shares of Chime Financial in the second quarter valued at about $1,258,000. Octahedron Capital Management L.P. acquired a new stake in shares of Chime Financial in the second quarter valued at about $3,451,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Chime Financial in the second quarter worth about $693,000.

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.