Chime Financial, Inc. (NASDAQ:CHYM) Receives $32.24 Consensus PT from Brokerages

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.2353.

A number of equities research analysts have commented on CHYM shares. Piper Sandler reduced their price target on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. JPMorgan Chase & Co. cut their price objective on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. B. Riley Financial started coverage on Chime Financial in a research note on Thursday, December 11th. They issued a “buy” rating and a $35.00 target price for the company. The Goldman Sachs Group boosted their target price on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Rothschild & Co Redburn upgraded Chime Financial to a “hold” rating in a report on Monday, January 26th.

Insider Transactions at Chime Financial

In related news, Director James Feuille sold 176,168 shares of Chime Financial stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $27.12, for a total value of $4,777,676.16. Following the completion of the sale, the director owned 7,044,936 shares of the company’s stock, valued at approximately $191,058,664.32. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Matthew S. Newcomb sold 10,000 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the sale, the chief financial officer owned 2,240,798 shares of the company’s stock, valued at $62,764,751.98. This trade represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 256,539 shares of company stock valued at $6,973,943 in the last 90 days.

Hedge Funds Weigh In On Chime Financial

Several large investors have recently added to or reduced their stakes in CHYM. Geode Capital Management LLC purchased a new position in Chime Financial during the 2nd quarter worth $9,519,000. Norges Bank bought a new position in shares of Chime Financial during the second quarter valued at about $24,157,000. Federated Hermes Inc. boosted its holdings in Chime Financial by 11.1% during the third quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock worth $17,421,000 after purchasing an additional 86,593 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Chime Financial by 1,203.2% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 81,450 shares of the company’s stock worth $1,643,000 after purchasing an additional 75,200 shares in the last quarter. Finally, Seven Grand Managers LLC bought a new stake in Chime Financial in the 2nd quarter worth about $3,451,000.

Chime Financial Stock Up 1.8%

Shares of CHYM stock opened at $19.69 on Friday. The firm has a 50 day moving average of $25.18 and a 200-day moving average of $23.64. The company has a market cap of $7.38 billion and a price-to-earnings ratio of -2.65. Chime Financial has a 52 week low of $16.17 and a 52 week high of $44.94.

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.