Chime Financial (NASDAQ:CHYM) Raised to Strong-Buy at Texas Capital

Chime Financial (NASDAQ:CHYM) was upgraded by Texas Capital to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. UBS Group lifted their price target on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. Wells Fargo & Company assumed coverage on shares of Chime Financial in a research note on Monday. They issued an “overweight” rating and a $25.00 price target on the stock. KeyCorp assumed coverage on shares of Chime Financial in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, Compass Point upgraded shares of Chime Financial from a “neutral” rating to a “buy” rating and lowered their price target for the company from $33.00 to $27.00 in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.58.

Chime Financial Trading Up 5.2%

CHYM opened at $23.41 on Tuesday. The stock has a market capitalization of $8.99 billion and a P/E ratio of -3.10. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94. The firm’s fifty day simple moving average is $20.51 and its 200 day simple moving average is $21.84.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The firm had revenue of $596.36 million for the quarter. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. The firm’s quarterly revenue was up 25.5% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the 2nd quarter worth about $33,000. Scopus Asset Management L.P. acquired a new position in shares of Chime Financial during the 2nd quarter worth about $34,000. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial during the 4th quarter worth about $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial during the 2nd quarter worth about $40,000. Finally, Osaic Holdings Inc. acquired a new position in shares of Chime Financial during the 2nd quarter worth about $45,000.

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.