Chime Financial (NASDAQ:CHYM) Stock Rating Upgraded by Wall Street Zen

Chime Financial (NASDAQ:CHYM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Barclays started coverage on shares of Chime Financial in a research report on Wednesday, July 8th. They set an “overweight” rating and a $26.00 price objective for the company. BMO Capital Markets reduced their target price on shares of Chime Financial from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, July 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research note on Monday, May 11th. Finally, Wells Fargo & Company lifted their target price on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Chime Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

Chime Financial Price Performance

Shares of CHYM stock opened at $20.69 on Friday. The stock’s 50-day moving average price is $19.12 and its 200 day moving average price is $20.94. The stock has a market capitalization of $7.88 billion and a PE ratio of -2.78. Chime Financial has a 52-week low of $15.88 and a 52-week high of $36.15.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The company had revenue of $647.39 million during the quarter. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts expect that Chime Financial will post 0.3 earnings per share for the current fiscal year.

Insider Activity at Chime Financial

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the transaction, the general counsel directly owned 303,795 shares of the company’s stock, valued at $5,316,412.50. This trade represents a 0.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chime Financial

A number of large investors have recently bought and sold shares of the stock. Tiger Global Management LLC raised its holdings in shares of Chime Financial by 13.8% in the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after acquiring an additional 1,721,731 shares during the last quarter. Aspect Management LLC acquired a new stake in shares of Chime Financial during the fourth quarter valued at $300,361,000. Ashton Thomas Private Wealth LLC purchased a new stake in Chime Financial during the 4th quarter worth about $129,091,000. Orland Properties Ltd purchased a new stake in Chime Financial during the 2nd quarter worth about $159,093,000. Finally, Scge Management L.P. acquired a new position in Chime Financial in the 2nd quarter valued at about $152,563,000.

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.