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

Chime Financial, Inc. (NASDAQ:CHYM) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $32.2778.

Several research firms recently weighed in on CHYM. B. Riley Financial initiated coverage on shares of Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price target on the stock. UBS Group upped their price objective on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. KeyCorp began coverage on shares of Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 target price for the company. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Finally, Rothschild & Co Redburn started coverage on shares of Chime Financial in a research report on Monday, January 26th. They set a “neutral” rating and a $29.00 price target on the stock.

Insider Transactions at Chime Financial

In other news, CEO Christopher R. Britt sold 50,000 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Adam B. Frankel sold 4,382 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $27.29, for a total value of $119,584.78. Following the completion of the transaction, the general counsel owned 209,500 shares of the company’s stock, valued at approximately $5,717,255. The trade was a 2.05% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 72,111 shares of company stock valued at $1,996,109.

Institutional Investors Weigh In On Chime Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHYM. Galileo PTC Ltd bought a new stake in shares of Chime Financial during the 2nd quarter valued at $1,803,793,000. ICONIQ Capital LLC purchased a new stake in shares of Chime Financial in the 2nd quarter worth about $518,844,000. Tiger Global Management LLC increased its stake in shares of Chime Financial by 13.8% in the 4th quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after acquiring an additional 1,721,731 shares in the last quarter. Aspect Management LLC bought a new position in shares of Chime Financial in the 4th quarter worth about $300,361,000. Finally, Dragoneer Investment Group LLC purchased a new position in Chime Financial during the 2nd quarter valued at about $295,022,000.

Chime Financial Price Performance

CHYM opened at $20.61 on Wednesday. Chime Financial has a one year low of $16.17 and a one year high of $44.94. The business has a 50 day simple moving average of $23.56 and a two-hundred day simple moving average of $22.58. The firm has a market capitalization of $7.92 billion and a price-to-earnings ratio of -2.73.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. The firm had revenue of $596.36 million for the quarter. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.Chime Financial’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.30) earnings per share.

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.