Chime Financial, Inc. (NASDAQ:CHYM) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Chime Financial, Inc. (NASDAQ:CHYM) has been assigned an average recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.53.

CHYM has been the topic of several analyst reports. BMO Capital Markets raised their target price on Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. UBS Group boosted their price target on Chime Financial from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Loop Capital assumed coverage on shares of Chime Financial in a research report on Wednesday, September 9th. They issued a “buy” rating and a $45.00 price objective for the company. B. Riley Financial increased their target price on shares of Chime Financial from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, September 14th. Finally, Weiss Ratings upgraded Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd.

Chime Financial Trading Up 1.5%

NASDAQ CHYM opened at $27.25 on Friday. Chime Financial has a 12-month low of $15.88 and a 12-month high of $35.55. The company has a fifty day simple moving average of $29.95 and a two-hundred day simple moving average of $23.22. The stock has a market cap of $10.32 billion, a P/E ratio of -389.23 and a beta of 0.83.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The firm had revenue of $669.77 million for the quarter. During the same period in the previous year, the company earned ($7.29) earnings per share. Chime Financial’s revenue was up 26.8% on a year-over-year basis. As a group, sell-side analysts forecast that Chime Financial will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the transaction, the insider directly owned 405,663 shares of the company’s stock, valued at $13,248,953.58. This trade represents a 91.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 18,827,490 shares of company stock worth $617,797,141 in the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Chime Financial

A number of institutional investors have recently made changes to their positions in CHYM. Engineers Gate Manager LP acquired a new stake in Chime Financial during the 2nd quarter worth $1,810,000. Arizona State Retirement System purchased a new stake in shares of Chime Financial during the second quarter worth $692,000. Light Street Capital Management LLC raised its position in shares of Chime Financial by 5.8% in the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock valued at $45,037,000 after buying an additional 121,474 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Chime Financial in the second quarter valued at about $7,828,000. Finally, Comprehensive Financial Management LLC raised its position in shares of Chime Financial by 2.4% in the second quarter. Comprehensive Financial Management LLC now owns 565,976 shares of the company’s stock valued at $11,591,000 after buying an additional 13,225 shares during the last quarter.

About Chime Financial

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company’s product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.