Chime Financial (NASDAQ:CHYM) Stock Rated “Neutral” in New Coverage at Monness Crespi & Hardt

Analysts at Monness Crespi & Hardt started coverage on shares of Chime Financial (NASDAQ:CHYM) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set a “neutral” rating on the stock.

Several other analysts have also weighed in on the company. Weiss Ratings raised Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. Wells Fargo & Company lifted their target price on Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 25th. Piper Sandler boosted their target price on Chime Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 9th. Raymond James Financial set a $35.00 target price on Chime Financial in a research note on Thursday, October 8th. Finally, Canaccord Genuity Group increased their target price on shares of Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average target price of $36.38.

Chime Financial Stock Performance

Shares of CHYM stock opened at $29.57 on Monday. Chime Financial has a fifty-two week low of $15.88 and a fifty-two week high of $35.55. The stock’s fifty day moving average price is $30.67 and its two-hundred day moving average price is $24.38. The company has a market cap of $11.19 billion, a PE ratio of -422.37 and a beta of 0.83.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%. The company had revenue of $669.77 million during the quarter. During the same period last year, the firm posted ($7.29) EPS. Chime Financial’s quarterly revenue was up 26.8% on a year-over-year basis. On average, equities analysts predict that Chime Financial will post 0.45 EPS for the current fiscal year.

Insider Transactions at Chime Financial

In other Chime Financial 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 sale, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan King sold 11,318 shares of the business’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $31.03, for a total transaction of $351,197.54. Following the sale, the insider directly owned 37,812 shares in the company, valued at approximately $1,173,306.36. The trade was a 23.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,889,108 shares of company stock valued at $619,627,638. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CHYM. Kingswood Wealth Advisors LLC acquired a new position in Chime Financial in the 3rd quarter worth about $206,000. Citizens Financial Group Inc. RI raised its position in Chime Financial by 55.4% in the third quarter. Citizens Financial Group Inc. RI now owns 40,903 shares of the company’s stock valued at $1,090,000 after purchasing an additional 14,585 shares during the last quarter. MBL Wealth LLC acquired a new stake in shares of Chime Financial during the third quarter valued at about $235,000. Root Financial Partners LLC acquired a new stake in shares of Chime Financial during the third quarter valued at about $70,000. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of Chime Financial during the third quarter valued at about $39,000.

About Chime Financial

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime’s products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.