Chime Financial (NASDAQ:CHYM) Raised to Strong-Buy at Texas Capital

Chime Financial (NASDAQ:CHYM) was upgraded by research analysts at Texas Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday. KeyCorp initiated coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price target for the company. Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and decreased their price target for the company from $33.00 to $27.00 in a research report on Monday. Finally, Wells Fargo & Company initiated coverage on shares of Chime Financial in a research report on Monday. They issued an “overweight” rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial currently has an average rating of “Moderate Buy” and a consensus price target of $31.58.

Chime Financial Stock Performance

Shares of NASDAQ CHYM opened at $23.41 on Tuesday. Chime Financial has a 52-week low of $16.17 and a 52-week high of $44.94. The firm has a 50 day moving average price of $20.51 and a two-hundred day moving average price of $21.84. The stock has a market cap of $8.99 billion and a P/E ratio of -3.10.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The firm had revenue of $596.36 million during the quarter. During the same quarter last year, the company posted ($0.30) earnings per share. The company’s revenue was up 25.5% compared to the same quarter last year.

Institutional Investors Weigh In On Chime Financial

Several large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial during the second quarter worth $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial during the second quarter worth $34,000. PNC Financial Services Group Inc. acquired a new stake in shares of Chime Financial during the fourth quarter worth $25,000. Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial during the second quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after buying an additional 1,276 shares during the period.

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.