Chime Financial (NASDAQ:CHYM) Given New $30.00 Price Target at The Goldman Sachs Group

Chime Financial (NASDAQ:CHYM) had its price objective upped by The Goldman Sachs Group from $27.00 to $30.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on CHYM. JPMorgan Chase & Co. decreased their price target on Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Piper Sandler dropped their target price on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. B. Riley initiated coverage on Chime Financial in a research report on Thursday, December 11th. They set a “buy” rating and a $35.00 target price for the company. Canaccord Genuity Group restated a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a report on Thursday, October 30th. Finally, Arete Research upgraded Chime Financial to a “strong-buy” rating in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.44.

Chime Financial Stock Performance

Shares of CHYM opened at $27.00 on Tuesday. The firm has a market cap of $10.11 billion and a PE ratio of -3.63. The firm’s 50 day moving average price is $22.48 and its 200 day moving average price is $25.21. Chime Financial has a twelve month low of $16.17 and a twelve month high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The company had revenue of $543.52 million for the quarter. During the same period in the prior year, the firm earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis.

Insider Buying and Selling

In other news, Director James Feuille sold 7,229 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $24.82, for a total transaction of $179,423.78. Following the transaction, the director owned 7,037,707 shares in the company, valued at approximately $174,675,887.74. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Adam B. Frankel sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $25.50, for a total value of $25,500.00. Following the completion of the sale, the general counsel owned 252,416 shares of the company’s stock, valued at $6,436,608. This trade represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 191,657 shares of company stock valued at $5,157,258.

Institutional Trading of Chime Financial

A number of hedge funds have recently added to or reduced their stakes in CHYM. Davis Selected Advisers acquired a new stake in shares of Chime Financial during the third quarter worth $48,391,000. Lunate Capital Ltd acquired a new position in Chime Financial during the third quarter worth $36,503,000. Armistice Capital LLC acquired a new position in shares of Chime Financial during the third quarter valued at about $257,000. Dark Forest Capital Management LP bought a new stake in shares of Chime Financial during the third quarter worth about $1,185,000. Finally, XTX Topco Ltd raised its holdings in shares of Chime Financial by 778.4% in the 3rd quarter. XTX Topco Ltd now owns 116,262 shares of the company’s stock worth $2,345,000 after acquiring an additional 103,026 shares during the last quarter.

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.