Chime Financial (NASDAQ:CHYM) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Chime Financial (NASDAQ:CHYM) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other analysts have also commented on the stock. BMO Capital Markets decreased their price target on shares of Chime Financial from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research note on Monday, May 11th. Barclays assumed coverage on shares of Chime Financial in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $26.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Finally, Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $33.00 to $27.00 in a research report on Monday, April 13th. Four 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.19.

Chime Financial Stock Performance

Shares of Chime Financial stock opened at $20.69 on Friday. Chime Financial has a 52 week low of $15.88 and a 52 week high of $36.15. The stock has a 50 day moving average price of $19.12 and a two-hundred day moving average price of $20.98. The stock has a market capitalization of $7.88 billion and a PE ratio of -2.78.

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

Insider Transactions at Chime Financial

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the company’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 completion of the sale, the general counsel owned 303,795 shares in the company, valued at approximately $5,316,412.50. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chime Financial

Several large investors have recently bought and sold shares of CHYM. PNC Financial Services Group Inc. purchased a new position in Chime Financial during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the second quarter valued at about $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 valued at $37,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of Chime Financial during the second quarter valued at about $40,000.

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.