Chime Financial (NASDAQ:CHYM) Rating Increased to Buy at Compass Point

Compass Point upgraded shares of Chime Financial (NASDAQ:CHYM) from a neutral rating to a buy rating in a research note published on Monday morning, MarketBeat Ratings reports. Compass Point currently has $27.00 target price on the stock, down from their prior target price of $33.00.

Several other research analysts have also recently commented on CHYM. UBS Group raised their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday. KeyCorp initiated coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chime Financial currently has an average rating of “Moderate Buy” and an average price target of $31.58.

Chime Financial Stock Up 8.5%

Shares of CHYM stock opened at $21.28 on Monday. The firm has a 50 day moving average price of $20.47 and a two-hundred day moving average price of $21.82. The company has a market capitalization of $8.17 billion and a PE ratio of -2.81. Chime Financial has a 12-month low of $16.17 and a 12-month high of $44.94.

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

Institutional Investors Weigh In On Chime Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in CHYM. EverSource Wealth Advisors LLC bought a new position in Chime Financial in the second quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new position in Chime Financial in the second quarter valued at approximately $34,000. PNC Financial Services Group Inc. bought a new position in Chime Financial in the fourth quarter valued at approximately $25,000. Daiwa Securities Group Inc. bought a new position in Chime Financial in the second quarter valued at approximately $40,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after acquiring an additional 1,276 shares during the last quarter.

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.