Chime Financial, Inc. (NASDAQ:CHYM) Receives $32.33 Average PT from Analysts

Chime Financial, Inc. (NASDAQ:CHYM) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, fifteen have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.7368.

A number of analysts have commented on CHYM shares. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. UBS Group increased their price target on Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. The Goldman Sachs Group raised their price target on Chime Financial from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods lifted their price objective on Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets increased their target price on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th.

Chime Financial Stock Down 4.3%

Chime Financial stock opened at $32.31 on Wednesday. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of -461.51 and a beta of 0.60. Chime Financial has a 12-month low of $15.88 and a 12-month high of $34.44. The business’s 50-day simple moving average is $26.98 and its 200 day simple moving average is $22.25.

Chime Financial (NASDAQ:CHYM) last posted its quarterly 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. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business had revenue of $669.77 million during the quarter. During the same period last year, the firm earned ($7.29) earnings per share. The company’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, sell-side analysts expect that Chime Financial will post 0.43 EPS for the current year.

Insider Activity

In related news, insider Ryan A. King sold 375,000 shares of Chime Financial stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $30.27, for a total transaction of $11,351,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the transaction, the insider owned 405,663 shares of the company’s stock, valued at approximately $13,248,953.58. This represents a 91.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,879,790 shares of company stock valued at $451,025,723 over the last 90 days. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Chime Financial

Several hedge funds have recently bought and sold shares of the company. Tiger Global Management LLC boosted its position in shares of Chime Financial by 13.8% during the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after purchasing an additional 1,721,731 shares in the last quarter. Aspect Management LLC bought a new stake in shares of Chime Financial in the 4th quarter valued at $300,361,000. Orland Properties Ltd bought a new position in Chime Financial during the second quarter worth about $159,093,000. Scge Management L.P. acquired a new position in Chime Financial in the second quarter valued at about $152,563,000. Finally, Spyglass Capital Management LLC grew its stake in Chime Financial by 162.6% in the second quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after acquiring an additional 2,109,057 shares during the period.

About Chime Financial

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.