Chime Financial (NASDAQ:CHYM) Price Target Raised to $44.00

Chime Financial (NASDAQ:CHYM) had its price objective raised by B. Riley Financial from $37.00 to $44.00 in a research note released on Monday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. UBS Group upped their price target on Chime Financial from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Rothschild & Co Redburn upgraded Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Monday. Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Keefe, Bruyette & Woods boosted their target price on Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Chime Financial presently has a consensus rating of “Buy” and a consensus target price of $36.40.

Chime Financial Trading Down 7.0%

CHYM stock opened at $31.25 on Monday. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of -446.36 and a beta of 0.60. The firm’s 50-day moving average price is $28.44 and its two-hundred day moving average price is $22.76. Chime Financial has a 12-month low of $15.88 and a 12-month high of $35.55.

Chime Financial (NASDAQ:CHYM) last posted its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($7.29) earnings per share. Equities analysts predict that Chime Financial will post 0.44 EPS for the current year.

Insider Activity

In related news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total value of $145,538,087.62. Following the completion of the transaction, the insider directly owned 405,663 shares of the company’s stock, valued at $13,248,953.58. This represents a 91.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 18,827,490 shares of company stock worth $617,797,141 in the last 90 days. 12.30% of the stock is owned by insiders.

Institutional Trading of Chime Financial

Several large investors have recently bought and sold shares of CHYM. Engineers Gate Manager LP purchased a new position in shares of Chime Financial in the 2nd quarter valued at approximately $1,810,000. Arizona State Retirement System bought a new stake in shares of Chime Financial during the second quarter valued at approximately $692,000. Light Street Capital Management LLC grew its stake in Chime Financial by 5.8% in the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock worth $45,037,000 after purchasing an additional 121,474 shares during the period. Allianz Asset Management GmbH purchased a new stake in Chime Financial in the second quarter worth $7,828,000. Finally, Comprehensive Financial Management LLC grew its stake in Chime Financial by 2.4% in the second quarter. Comprehensive Financial Management LLC now owns 565,976 shares of the company’s stock worth $11,591,000 after purchasing an additional 13,225 shares during the period.

Key Headlines Impacting Chime Financial

Here are the key news stories impacting Chime Financial this week:

• Positive Sentiment: Analysts remain bullish: Goldman Sachs raised its price target to $37 and maintained a “Buy” rating. B. Riley lifted its target to $44, while Rothschild & Co Redburn upgraded CHYM to “Buy” with a $46 target. These calls indicate continued confidence in Chime’s growth outlook. B. Riley raises Chime price target Rothschild upgrades Chime
• Positive Sentiment: Bank acquisition offers strategic upside: Chime agreed to acquire Central Service Corporation, the parent of Stride Bank, for $590 million in cash. Pending regulatory approvals, the transaction would allow Stride to become Chime Bank, N.A., giving Chime greater control over its banking infrastructure and potentially improving long-term economics. Chime bank acquisition analysis
• Positive Sentiment: Operating momentum remains favorable: Chime’s latest results showed revenue growth of 26.8% year over year, 10.4 million active members and a second consecutive quarter of GAAP profitability. The company also raised its full-year outlook.
• Neutral Sentiment: New York expansion: Chime opened a new office in New York, supporting its corporate and hiring footprint, although the announcement is unlikely to materially change near-term earnings expectations. Chime opens New York office
• Negative Sentiment: Heavy insider selling is a sentiment headwind: General Counsel Adam Frankel sold 102,002 shares for about $3.4 million, and Director James Feuille sold 352,237 shares worth roughly $11.6 million across two transactions. A major shareholder also sold 207,513 shares for approximately $6.9 million. Recent disclosures show numerous insider sales and no reported open-market purchases over the past six months. Some transactions were conducted under pre-arranged Rule 10b5-1 plans, but the volume may still reinforce profit-taking concerns. SEC insider sale filing
• Negative Sentiment: Acquisition risks are being reassessed: Investors are weighing regulatory approval, integration costs and capital requirements associated with the Stride transaction. After the recent run-up, these uncertainties have contributed to increased volatility and pressure on CHYM.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company’s products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.