Chime Financial (NASDAQ:CHYM) Stock Rating Upgraded by Barclays

Chime Financial (NASDAQ:CHYM) was upgraded by stock analysts at Barclays to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently commented on CHYM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. BMO Capital Markets initiated coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 target price on the stock. Wells Fargo & Company increased 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. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price target on shares of Chime Financial in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.65.

Chime Financial Stock Performance

Chime Financial stock opened at $21.31 on Tuesday. Chime Financial has a one year low of $15.88 and a one year high of $38.67. The business has a fifty day moving average of $18.62 and a two-hundred day moving average of $21.31. The company 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 EPS for the quarter, topping the consensus estimate of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The company had revenue of $647.39 million for the quarter. The business’s quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts predict that Chime Financial will post 0.3 EPS for the current year.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction on Monday, June 15th. The stock was 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 of the company’s stock, valued at $5,316,412.50. The trade was a 0.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chime Financial

Several hedge funds have recently added to or reduced their stakes in the business. Affinity Capital Advisors LLC acquired a new position in Chime Financial during the second quarter worth about $325,000. AMS Capital Ltda acquired a new stake in shares of Chime Financial in the first quarter valued at approximately $3,439,000. NewEdge Advisors LLC grew its position in shares of Chime Financial by 61.8% in the first quarter. NewEdge Advisors LLC now owns 28,780 shares of the company’s stock valued at $539,000 after purchasing an additional 10,997 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new position in shares of Chime Financial during the 1st quarter worth approximately $798,000. Finally, Bank of America Corp DE increased its stake in shares of Chime Financial by 115.0% during the 1st quarter. Bank of America Corp DE now owns 319,579 shares of the company’s stock worth $5,986,000 after purchasing an additional 170,941 shares in 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.