Chime Financial (NASDAQ:CHYM) Upgraded at Barclays

Barclays upgraded shares of Chime Financial (NASDAQ:CHYM) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Sunday, April 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Wells Fargo & Company raised their target price on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Finally, BMO Capital Markets started coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price objective for the company. Five equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.65.

Chime Financial Stock Up 1.6%

Shares of CHYM stock opened at $21.31 on Tuesday. The company’s fifty day simple moving average is $18.62 and its two-hundred day simple moving average is $21.31. Chime Financial has a 52 week low of $15.88 and a 52 week high of $38.67. The stock has a market cap of $8.12 billion and a P/E ratio of -2.87.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The firm had revenue of $647.39 million for 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, analysts anticipate that Chime Financial will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling at Chime Financial

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $17.50, for a total value of $52,500.00. Following the completion of the sale, the general counsel owned 303,795 shares in the company, valued at approximately $5,316,412.50. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Chime Financial

Several institutional investors have recently added to or reduced their stakes in the company. Aspect Management LLC purchased a new position in shares of Chime Financial during the fourth quarter valued at approximately $300,361,000. Ashton Thomas Private Wealth LLC purchased a new position in Chime Financial during the 4th quarter valued at $129,091,000. Orland Properties Ltd bought a new position in Chime Financial in the 2nd quarter valued at $159,093,000. Scge Management L.P. purchased a new stake in Chime Financial in the second quarter worth $152,563,000. Finally, Arrowstreet Capital Limited Partnership lifted its position 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 purchasing an additional 2,658,816 shares during the last quarter.

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.