Chime Financial (NASDAQ:CHYM) Releases Quarterly Earnings Results

Chime Financial (NASDAQ:CHYM) released its earnings results on Wednesday. The company reported $0.07 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%.

Chime Financial Stock Up 3.9%

CHYM traded up $0.97 during trading on Wednesday, hitting $25.92. 8,951,382 shares of the company’s stock were exchanged, compared to its average volume of 4,688,760. Chime Financial has a fifty-two week low of $15.88 and a fifty-two week high of $33.99. The stock has a market cap of $9.88 billion, a P/E ratio of -3.49 and a beta of 0.31. The business’s 50 day moving average is $19.88 and its two-hundred day moving average is $20.74.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and decreased their price target for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a research report on Thursday, July 23rd. Barclays began coverage on Chime Financial in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $26.00 target price for the company. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, BMO Capital Markets cut their price target on Chime Financial from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $29.19.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction dated 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 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 legal filing with the SEC, which is available at this link. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chime Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB bought a new stake in Chime Financial during the 2nd quarter worth approximately $1,358,000. Affinity Capital Advisors LLC bought a new position in shares of Chime Financial in the second quarter valued at approximately $325,000. AMS Capital Ltda purchased a new position in shares of Chime Financial during the first quarter valued at approximately $3,439,000. NewEdge Advisors LLC boosted its position in shares of Chime Financial by 61.8% during the first quarter. NewEdge Advisors LLC now owns 28,780 shares of the company’s stock valued at $539,000 after buying an additional 10,997 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. bought a new stake in Chime Financial during the first quarter worth $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.