Chime Financial (NASDAQ:CHYM) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Chime Financial (NASDAQ:CHYM) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and cut their target price for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Keefe, Bruyette & Woods raised Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. UBS Group raised their price objective on Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Sunday, April 12th. Finally, Wells Fargo & Company assumed coverage on shares of Chime Financial in a research note on Monday, April 13th. They issued an “overweight” rating and a $25.00 target price for the company. Four investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.50.

Chime Financial Stock Down 5.2%

Chime Financial stock opened at $22.58 on Tuesday. The company has a market capitalization of $8.67 billion and a PE ratio of -2.99. Chime Financial has a 12-month low of $16.17 and a 12-month high of $44.94. The firm’s fifty day moving average is $20.79 and its 200 day moving average is $21.96.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The business had revenue of $596.36 million during the quarter. During the same quarter in the previous year, the business posted ($0.30) earnings per share. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. Sell-side analysts expect that Chime Financial will post 0.16 EPS for the current fiscal year.

Institutional Trading of Chime Financial

Hedge funds have recently bought and sold shares of the business. Tiger Global Management LLC boosted its position in Chime Financial by 13.8% in the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after purchasing an additional 1,721,731 shares during the last quarter. Aspect Management LLC bought a new stake in shares of Chime Financial during the 4th quarter worth $300,361,000. Capital Research Global Investors raised its stake in shares of Chime Financial by 90.0% during the 3rd quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock worth $138,730,000 after purchasing an additional 3,258,179 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chime Financial in the 4th quarter worth about $129,091,000. Finally, Orland Properties Ltd purchased a new position in shares of Chime Financial in the 2nd quarter worth about $159,093,000.

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.