Chime Financial, Inc. (NASDAQ:CHYM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Chime Financial, Inc. (NASDAQ:CHYM) have been given an average rating of “Moderate Buy” by the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $32.4375.

Several analysts have recently issued reports on the stock. Arete Research upgraded shares of Chime Financial to a “strong-buy” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods cut their price target on shares of Chime Financial from $42.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Williams Trading set a $17.00 price objective on shares of Chime Financial in a research note on Monday, November 3rd. UBS Group dropped their target price on shares of Chime Financial from $37.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Piper Sandler cut their target price on Chime Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th.

Chime Financial Price Performance

CHYM opened at $26.46 on Tuesday. Chime Financial has a fifty-two week low of $16.17 and a fifty-two week high of $44.94. The firm has a market capitalization of $9.91 billion and a PE ratio of -3.56. The company’s 50-day moving average is $24.51 and its 200 day moving average is $24.81.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.10. The company had revenue of $543.52 million during the quarter. The firm’s revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) earnings per share.

Insiders Place Their Bets

In related news, CFO Matthew S. Newcomb sold 10,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.01, for a total value of $280,100.00. Following the transaction, the chief financial officer directly owned 2,240,798 shares of the company’s stock, valued at approximately $62,764,751.98. The trade was a 0.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Feuille sold 7,229 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $24.82, for a total transaction of $179,423.78. Following the transaction, the director owned 7,037,707 shares of the company’s stock, valued at approximately $174,675,887.74. The trade was a 0.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 256,539 shares of company stock valued at $6,973,943.

Institutional Investors Weigh In On Chime Financial

Hedge funds have recently modified their holdings of the stock. Galileo PTC Ltd bought a new position in Chime Financial during the second quarter valued at $1,803,793,000. ICONIQ Capital LLC purchased a new position in shares of Chime Financial during the 2nd quarter valued at $518,844,000. Dragoneer Investment Group LLC bought a new position in shares of Chime Financial during the 2nd quarter worth $295,022,000. Orland Properties Ltd purchased a new stake in Chime Financial in the 2nd quarter worth about $159,093,000. Finally, Scge Management L.P. purchased a new stake in Chime Financial in the 2nd quarter worth about $152,563,000.

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.