Chime Financial (NASDAQ:CHYM) Now Covered by BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Chime Financial (NASDAQ:CHYM) in a report released on Wednesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $30.00 price target on the stock.

Other research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. UBS Group lifted their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research 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. Finally, The Goldman Sachs Group lifted 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. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Chime Financial Price Performance

Chime Financial stock opened at $23.81 on Wednesday. The firm’s 50 day simple moving average is $20.73 and its 200-day simple moving average is $21.96. The company has a market cap of $9.15 billion and a P/E ratio of -3.15. Chime Financial has a fifty-two week low of $16.17 and a fifty-two week high of $44.94.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.08. The business had revenue of $596.36 million for the quarter. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The business’s revenue was up 25.5% on a year-over-year basis. During the same period last year, the business earned ($0.30) earnings per share. On average, analysts expect that Chime Financial will post 0.16 EPS for the current fiscal year.

Institutional Trading of Chime Financial

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Chime Financial during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial during the second quarter worth approximately $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial during the second quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after purchasing an additional 1,276 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial during the second quarter worth approximately $40,000.

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.