Chime Financial (NASDAQ:CHYM) Coverage Initiated by Analysts at Barclays

Barclays began coverage on shares of Chime Financial (NASDAQ:CHYM) in a note issued to investors on Wednesday,Benzinga reports. The firm set an “overweight” rating on the stock.

Several other brokerages have also issued reports on CHYM. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Wells Fargo & Company increased their price target on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. BMO Capital Markets initiated coverage on shares of Chime Financial in a report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price objective for the company. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and dropped their target price for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $40.00 target price on shares of Chime Financial in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.88.

Chime Financial Stock Down 1.5%

Chime Financial stock opened at $21.12 on Wednesday. Chime Financial has a 52 week low of $15.88 and a 52 week high of $38.67. The company’s 50 day moving average price is $18.65 and its two-hundred day moving average price is $21.38. The stock has a market cap of $8.05 billion and a P/E ratio of -2.84.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $647.39 million during the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts anticipate that Chime Financial will post 0.3 EPS for the current year.

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the transaction, the general counsel owned 303,795 shares in the company, valued at $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Chime Financial

A number of institutional investors have recently modified their holdings of CHYM. EverSource Wealth Advisors LLC purchased a new position in Chime Financial in the 2nd quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial in the second quarter worth $34,000. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial in the fourth quarter worth $25,000. Daiwa Securities Group Inc. purchased a new position in shares of Chime Financial in the second quarter valued at $40,000. Finally, Osaic Holdings Inc. purchased a new position in shares of Chime Financial in the second quarter valued at $45,000.

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.