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

KeyCorp started coverage on shares of Chime Financial (NASDAQ:CHYM) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $30.00 price objective on the stock.

Several other research analysts have also commented on CHYM. Rothschild & Co Redburn raised Chime Financial to a “hold” rating in a research report on Monday, January 26th. Williams Trading set a $17.00 target price on shares of Chime Financial in a report on Monday, November 3rd. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. UBS Group lifted their price objective on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Finally, Piper Sandler reduced their price objective on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.28.

Chime Financial Trading Up 3.5%

Shares of CHYM traded up $0.79 during mid-day trading on Tuesday, hitting $23.31. The company’s stock had a trading volume of 2,923,212 shares, compared to its average volume of 3,326,498. The company’s 50-day moving average is $24.12 and its 200-day moving average is $22.86. Chime Financial has a 52-week low of $16.17 and a 52-week high of $44.94. The firm has a market capitalization of $8.73 billion and a price-to-earnings ratio of -3.08.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. The company had revenue of $596.36 million during the quarter. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.35%. The business’s quarterly revenue was up 25.5% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS.

Insider Activity at Chime Financial

In related news, CEO Christopher R. Britt sold 50,000 shares of Chime Financial stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.06, for a total value of $1,403,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Adam B. Frankel sold 6,760 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $23.84, for a total transaction of $161,158.40. Following the sale, the general counsel directly owned 244,416 shares in the company, valued at approximately $5,826,877.44. This represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 256,539 shares of company stock valued at $6,973,943.

Institutional Investors Weigh In On Chime Financial

A number of large investors have recently made changes to their positions in CHYM. Claro Advisors LLC acquired a new position in shares of Chime Financial in the 2nd quarter valued at $402,000. SBI Securities Co. Ltd. purchased a new stake in Chime Financial during the 2nd quarter valued at about $217,000. Geode Capital Management LLC acquired a new position in shares of Chime Financial in the second quarter valued at about $9,519,000. Greenland Capital Management LP purchased a new position in shares of Chime Financial in the second quarter worth about $1,258,000. Finally, Octahedron Capital Management L.P. acquired a new stake in shares of Chime Financial during the second quarter worth about $3,451,000.

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.