Chime Financial (NASDAQ:CHYM) Stock Price Expected to Rise, UBS Group Analyst Says

Chime Financial (NASDAQ:CHYM) had its price objective increased by analysts at UBS Group from $35.00 to $37.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 28.07% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity Group started coverage on Chime Financial in a research note on Monday, July 7th. They set a “buy” rating and a $40.00 price target on the stock. Evercore ISI started coverage on Chime Financial in a research note on Monday, July 7th. They set an “outperform” rating and a $38.00 price target on the stock. Seaport Res Ptn raised Chime Financial to a “strong-buy” rating in a research note on Monday, June 30th. Barclays initiated coverage on Chime Financial in a research note on Monday, July 7th. They issued an “overweight” rating and a $40.00 target price on the stock. Finally, Piper Sandler initiated coverage on Chime Financial in a research note on Monday, July 7th. They issued an “overweight” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Chime Financial Trading Down 14.7%

Shares of NASDAQ:CHYM opened at $28.89 on Friday. Chime Financial has a 12 month low of $28.21 and a 12 month high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($7.29) EPS for the quarter, missing the consensus estimate of ($4.85) by ($2.44). The firm had revenue of $528.15 million during the quarter, compared to analyst estimates of $503.88 million. The business’s revenue for the quarter was up 37.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CHYM. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Chime Financial in the 2nd quarter worth $113,000. ANTIPODES PARTNERS Ltd purchased a new position in Chime Financial in the second quarter valued at about $173,000. Hennessy Advisors Inc. purchased a new position in Chime Financial in the second quarter valued at about $207,000. SBI Securities Co. Ltd. purchased a new position in Chime Financial in the second quarter valued at about $217,000. Finally, PFG Investments LLC purchased a new position in Chime Financial in the second quarter valued at about $350,000.

Chime Financial Company Profile

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.