Chime Financial, Inc. (NASDAQ:CHYM) Receives $29.65 Average Target Price from Brokerages

Chime Financial, Inc. (NASDAQ:CHYM) has been given an average rating of “Buy” by the eighteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have issued a buy recommendation and five have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.3125.

CHYM has been the subject of several research analyst reports. Barclays started coverage on Chime Financial in a research note on Wednesday, July 8th. They set an “overweight” rating and a $26.00 price objective for the company. Wall Street Zen lowered Chime Financial from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Texas Capital raised Chime Financial to a “strong-buy” rating in a report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Finally, Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $33.00 to $27.00 in a report on Monday, April 13th.

Chime Financial Trading Up 1.8%

Chime Financial stock opened at $22.33 on Tuesday. The firm’s 50 day simple moving average is $18.75 and its 200 day simple moving average is $21.14. The firm has a market capitalization of $8.51 billion and a PE ratio of -3.01. Chime Financial has a 1-year low of $15.88 and a 1-year high of $38.67.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $647.39 million during the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. Chime Financial’s revenue for the quarter was up 24.8% on a year-over-year basis. Research analysts forecast that Chime Financial will post 0.3 earnings per share for the current year.

Insider Transactions at Chime Financial

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of Chime Financial stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the sale, the general counsel directly owned 303,795 shares in the company, valued at $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Chime Financial

Several institutional investors and hedge funds have recently made changes to their positions in CHYM. JPMorgan Chase & Co. bought a new position in Chime Financial in the second quarter valued at $693,000. Legal & General Group Plc bought a new stake in Chime Financial during the second quarter worth about $136,000. Russell Investments Group Ltd. purchased a new position in shares of Chime Financial in the 2nd quarter worth about $958,000. EverSource Wealth Advisors LLC purchased a new position in shares of Chime Financial in the 2nd quarter worth about $33,000. Finally, Marshall Wace LLP bought a new position in shares of Chime Financial during the 2nd quarter valued at about $9,087,000.

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.