Chime Financial, Inc. (NASDAQ:CHYM) Stock Has Consensus Price Target of $36.38 According to Analysts

Chime Financial, Inc. (NASDAQ:CHYM) has been given an average recommendation of “Moderate Buy” by the twenty-four analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $36.38.

CHYM has been the subject of several analyst reports. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Barclays boosted their target price on Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Scotiabank increased their price target on Chime Financial from $40.00 to $42.00 and gave the company a “sector outperform” rating in a report on Wednesday, September 9th. B. Riley Financial raised their price target on Chime Financial from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Chime Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $35.00 in a research report on Thursday, October 8th.

Chime Financial Trading Up 0.9%

Shares of CHYM stock opened at $28.80 on Thursday. The stock’s 50-day moving average price is $30.44 and its 200-day moving average price is $23.81. Chime Financial has a 12-month low of $15.88 and a 12-month high of $35.55. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of -411.37 and a beta of 0.83.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($7.29) EPS. As a group, research analysts predict that Chime Financial will post 0.45 EPS for the current fiscal year.

Insider Transactions at Chime Financial

In other Chime Financial news, Director James Feuille sold 256,837 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $32.33, for a total transaction of $8,303,540.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Adam B. Frankel sold 102,002 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $33.31, for a total value of $3,397,686.62. Following the completion of the sale, the general counsel owned 364,828 shares in the company, valued at approximately $12,152,420.68. The trade was a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 18,889,108 shares of company stock worth $619,627,638. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chime Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Spyglass Capital Management LLC grew its position in Chime Financial by 162.6% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after acquiring an additional 2,109,057 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Chime Financial by 2,720.3% in 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 period. Light Street Capital Management LLC lifted its position in shares of Chime Financial by 5.8% during the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock worth $45,037,000 after purchasing an additional 121,474 shares during the last quarter. Atreides Management LP lifted its position in shares of Chime Financial by 7.9% during the first quarter. Atreides Management LP now owns 1,622,734 shares of the company’s stock worth $30,394,000 after purchasing an additional 118,946 shares during the last quarter. Finally, Ranger Investment Management L.P. bought a new stake in shares of Chime Financial during the second quarter worth $24,344,000.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime’s products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.