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

Chime Financial, Inc. (NASDAQ:CHYM) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $32.2778.

CHYM has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a research report on Monday, January 26th. B. Riley Financial initiated coverage on shares of Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price objective for the company. The Goldman Sachs Group raised their target price on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, KeyCorp began coverage on shares of Chime Financial in a report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company.

Chime Financial Price Performance

CHYM opened at $19.24 on Friday. The stock’s 50 day simple moving average is $21.16 and its 200 day simple moving average is $21.98. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94. The firm has a market cap of $7.39 billion and a price-to-earnings ratio of -2.54.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. The firm had revenue of $596.36 million during the quarter. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period last year, the company posted ($0.30) EPS.

Insider Buying and Selling

In other Chime Financial news, CEO Christopher R. Britt sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.06, for a total transaction of $1,403,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew S. Newcomb sold 10,000 shares of Chime Financial stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the transaction, the chief financial officer owned 2,240,798 shares of the company’s stock, valued at $62,764,751.98. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,882 shares of company stock valued at $1,816,685 over the last quarter.

Institutional Trading of Chime Financial

Several hedge funds and other institutional investors have recently made changes to their positions in CHYM. JPMorgan Chase & Co. purchased a new stake in shares of Chime Financial during the 2nd quarter valued at about $693,000. Legal & General Group Plc bought a new position in Chime Financial in the 2nd quarter worth $136,000. XTX Topco Ltd purchased a new position in Chime Financial during the second quarter valued at $457,000. Russell Investments Group Ltd. bought a new stake in Chime Financial during the second quarter valued at about $958,000. Finally, Norges Bank bought a new stake in Chime Financial during the second quarter valued at about $24,157,000.

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.