Chime Financial (NASDAQ:CHYM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Chime Financial (NASDAQ:CHYM) had its price target lifted by stock analysts at Wells Fargo & Company from $33.00 to $39.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 19.27% from the company’s previous close.

Several other brokerages have also recently issued reports on CHYM. Weiss Ratings cut Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Piper Sandler raised their target price on Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. B. Riley Financial lifted their price target on Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Zacks Research upgraded Chime Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chime Financial has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Chime Financial Stock Down 0.2%

Shares of Chime Financial stock opened at $32.70 on Tuesday. The firm has a market capitalization of $12.38 billion, a P/E ratio of -467.08 and a beta of 0.30. Chime Financial has a 52 week low of $15.88 and a 52 week high of $33.74. The company has a 50 day moving average price of $23.69 and a 200 day moving average price of $21.29.

Chime Financial (NASDAQ:CHYM) last released its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.Chime Financial’s revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company earned ($7.29) earnings per share. As a group, research analysts anticipate that Chime Financial will post 0.41 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Global Advisors Ltd Dst sold 473,694 shares of Chime Financial stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $32.71, for a total value of $15,494,530.74. Following the completion of the transaction, the insider owned 397,652 shares in the company, valued at $13,007,196.92. The trade was a 54.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher R. Britt sold 150,000 shares of Chime Financial stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $30.16, for a total value of $4,524,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,558,165 shares of company stock worth $341,244,743 in the last ninety days. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the 2nd quarter worth approximately $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial in the 2nd quarter valued at $34,000. PNC Financial Services Group Inc. acquired a new stake in Chime Financial in the 4th quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial in the 2nd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after acquiring an additional 1,276 shares during the period.

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.