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

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

A number of other analysts have also recently issued reports on CHYM. Texas Capital upgraded Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a report on Sunday, April 12th. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $33.00 to $27.00 in a report on Monday, April 13th. The Goldman Sachs Group boosted their target price on Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, KeyCorp initiated coverage on Chime Financial in a report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 target price for the company. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Chime Financial Stock Performance

Shares of NASDAQ:CHYM traded down $0.84 during trading on Tuesday, reaching $22.97. 293,463 shares of the stock were exchanged, compared to its average volume of 3,977,707. Chime Financial has a 12-month low of $16.17 and a 12-month high of $44.94. The firm has a market cap of $8.82 billion and a price-to-earnings ratio of -3.03. The firm’s 50-day moving average price is $20.73 and its 200 day moving average price is $21.96.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.The business had revenue of $596.36 million during the quarter. During the same quarter in the previous year, the firm posted ($0.30) EPS. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, equities research analysts forecast that Chime Financial will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Chime Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. lifted its position in Chime Financial by 11.1% during the 3rd quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock worth $17,421,000 after acquiring an additional 86,593 shares in the last quarter. Lunate Capital Ltd acquired a new position in shares of Chime Financial in the 3rd quarter valued at approximately $36,503,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Chime Financial in the 3rd quarter valued at approximately $4,026,000. Renaissance Capital LLC acquired a new position in shares of Chime Financial in the 3rd quarter valued at approximately $822,000. Finally, Davis Selected Advisers acquired a new position in shares of Chime Financial in the 3rd quarter valued at approximately $48,391,000.

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.