Chime Financial (NASDAQ:CHYM) Rating Increased to Strong-Buy at Barclays

Chime Financial (NASDAQ:CHYM) was upgraded by stock analysts at Barclays to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

CHYM has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a research report on Monday, May 11th. Compass Point upgraded Chime Financial from a “neutral” rating to a “buy” rating and cut their target price for the company from $33.00 to $27.00 in a research note on Monday, April 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a research note on Wednesday, June 3rd. Five research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chime Financial has a consensus rating of “Moderate Buy” and a consensus target price of $29.65.

Chime Financial Stock Performance

NASDAQ CHYM opened at $21.31 on Tuesday. The company has a market cap of $8.12 billion and a PE ratio of -2.87. The firm’s 50 day moving average price is $18.62 and its 200-day moving average price is $21.31. Chime Financial has a 52-week low of $15.88 and a 52-week high of $38.67.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $647.39 million during the quarter. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. Chime Financial’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts forecast that Chime Financial will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Chime Financial

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares in the company, valued at $5,316,412.50. The trade was a 0.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Chime Financial

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

About Chime Financial

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.