Chime Financial (NASDAQ:CHYM) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Chime Financial (NASDAQ:CHYM) from a buy rating to a hold rating in a research report released on Saturday.

A number of other equities analysts also recently commented on the stock. 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 report on Thursday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a report on Monday, January 26th. B. Riley Financial initiated coverage on shares of Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, KeyCorp initiated coverage on shares of Chime Financial in a report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.28.

Chime Financial Price Performance

Chime Financial stock opened at $19.36 on Friday. The company has a market cap of $7.44 billion and a PE ratio of -2.56. The company has a fifty day moving average price of $21.01 and a two-hundred day moving average price of $21.94. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94.

Chime Financial (NASDAQ:CHYM) last released 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 firm 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 70.90%. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.30) EPS.

Insider Buying and Selling at Chime Financial

In other Chime Financial news, CEO Christopher R. Britt sold 50,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was 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 SEC, which is available through this hyperlink. Also, CFO Matthew S. Newcomb sold 10,000 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $28.01, for a total value of $280,100.00. Following the completion of the sale, the chief financial officer owned 2,240,798 shares in the company, valued at $62,764,751.98. The trade was a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 64,882 shares of company stock worth $1,816,685.

Institutional Investors Weigh In On Chime Financial

A number of hedge funds have recently added to or reduced their stakes in CHYM. Galileo PTC Ltd bought a new stake in Chime Financial in the second quarter valued at $1,803,793,000. ICONIQ Capital LLC bought a new stake in Chime Financial in the second quarter valued at $518,844,000. Aspect Management LLC bought a new stake in Chime Financial in the fourth quarter valued at $300,361,000. Dragoneer Investment Group LLC bought a new stake in Chime Financial in the second quarter valued at $295,022,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Chime Financial during the fourth quarter valued at about $129,091,000.

Chime Financial Company Profile

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.