Chime Financial, Inc. (NASDAQ:CHYM) Stock Has Average Target Price of $36.40 According to Analysts

Chime Financial, Inc. (NASDAQ:CHYM) has earned an average rating of “Buy” from the twenty-four brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seventeen have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $36.40.

Several brokerages have issued reports on CHYM. KeyCorp boosted their target price on Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, September 9th. Canaccord Genuity Group increased their price target on Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Scotiabank raised their price target on Chime Financial from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a research note 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 for the company in a report on Monday, September 14th. Finally, Freedom Capital raised Chime Financial to a “strong-buy” rating in a research report on Thursday, July 23rd.

Insider Activity

In other news, Director Cynthia Marshall sold 20,000 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $33.09, for a total transaction of $661,800.00. Following the completion of the sale, the director directly owned 28,548 shares of the company’s stock, valued at approximately $944,653.32. The trade was a 41.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Feuille sold 256,837 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $32.33, for a total transaction of $8,303,540.21. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,827,490 shares of company stock valued at $617,797,141. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chime Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Chime Financial during the first quarter valued at approximately $44,000. PNC Financial Services Group Inc. grew its stake in Chime Financial by 835.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock worth $176,000 after purchasing an additional 8,390 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Chime Financial in the first quarter worth approximately $189,000. Affinity Capital Advisors LLC purchased a new position in Chime Financial during the 2nd quarter worth $325,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Chime Financial during the 1st quarter valued at $294,000.

Chime Financial Trading Down 0.6%

CHYM stock opened at $26.52 on Friday. Chime Financial has a 12 month low of $15.88 and a 12 month high of $35.55. The company has a 50-day moving average price of $29.60 and a 200 day moving average price of $23.11. The stock has a market cap of $10.04 billion, a PE ratio of -378.80 and a beta of 0.60.

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

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company’s product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.