Chime Financial (NASDAQ:CHYM) Price Target Cut to $28.00 by Analysts at BMO Capital Markets

Chime Financial (NASDAQ:CHYM) had its price objective reduced by BMO Capital Markets from $30.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently commented on CHYM. Texas Capital raised Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Barclays began coverage on Chime Financial in a research note on Wednesday, July 8th. They set an “overweight” rating and a $26.00 price target for the company. Wall Street Zen cut Chime Financial from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $33.00 to $27.00 in a research report on Monday, April 13th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a report on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.19.

Chime Financial Price Performance

CHYM stock opened at $21.82 on Wednesday. The firm has a 50 day simple moving average of $19.00 and a two-hundred day simple moving average of $21.03. The stock has a market cap of $8.31 billion and a PE ratio of -2.94. Chime Financial has a one year low of $15.88 and a one year high of $38.67.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CHYM. Handelsbanken Fonder AB purchased a new position in shares of Chime Financial in the second quarter worth about $1,358,000. Affinity Capital Advisors LLC purchased a new stake in Chime Financial during the 2nd quarter valued at about $325,000. AMS Capital Ltda bought a new position in Chime Financial during the 1st quarter worth approximately $3,439,000. NewEdge Advisors LLC grew its position in Chime Financial by 61.8% during the 1st quarter. NewEdge Advisors LLC now owns 28,780 shares of the company’s stock worth $539,000 after acquiring an additional 10,997 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. purchased a new position in Chime Financial in the 1st quarter worth approximately $798,000.

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.