Chime Financial, Inc. (NASDAQ:CHYM) Receives Average Recommendation of “Moderate Buy” from Analysts

Chime Financial, Inc. (NASDAQ:CHYM) has been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $32.25.

A number of equities research analysts have recently issued reports on CHYM shares. Canaccord Genuity Group reissued a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Chime Financial in a research note on Wednesday, October 8th. Williams Trading set a $17.00 target price on shares of Chime Financial in a research report on Monday, November 3rd. Piper Sandler lowered their target price on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Finally, William Blair reiterated an “outperform” rating on shares of Chime Financial in a research note on Tuesday, September 30th.

Chime Financial Stock Performance

Chime Financial stock opened at $26.63 on Friday. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94. The company has a 50 day moving average price of $21.18.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million during the quarter. During the same period in the previous year, the business earned ($0.34) EPS. Chime Financial’s revenue for the quarter was up 28.8% compared to the same quarter last year.

Insiders Place Their Bets

In other news, General Counsel Adam B. Frankel sold 1,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $25.50, for a total transaction of $25,500.00. Following the sale, the general counsel directly owned 252,416 shares of the company’s stock, valued at approximately $6,436,608. This represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Feuille sold 7,229 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $24.82, for a total value of $179,423.78. Following the completion of the transaction, the director directly owned 7,037,707 shares of the company’s stock, valued at approximately $174,675,887.74. This trade represents a 0.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 191,657 shares of company stock valued at $5,157,258.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently made changes to their positions in CHYM. Galileo PTC Ltd acquired a new position in Chime Financial during the second quarter valued at approximately $1,803,793,000. ICONIQ Capital LLC bought a new position in shares of Chime Financial in the 2nd quarter valued at $518,844,000. Dragoneer Investment Group LLC acquired a new position in shares of Chime Financial during the 2nd quarter worth $295,022,000. Orland Properties Ltd bought a new stake in shares of Chime Financial during the 2nd quarter worth $159,093,000. Finally, Scge Management L.P. bought a new stake in shares of Chime Financial during the 2nd quarter worth $152,563,000.

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.