Chime Financial, Inc. (NASDAQ:CHYM) Stock Has Consensus Price Target of $36.38

Chime Financial, Inc. (NASDAQ:CHYM) has received an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $36.38.

A number of research analysts have commented on CHYM shares. Canaccord Genuity Group upped their price target on Chime Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. B. Riley Financial lifted their price objective on Chime Financial from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Wells Fargo & Company lifted their price target on shares of Chime Financial from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Chime Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $35.00 in a report on Thursday, October 8th. Finally, Weiss Ratings raised shares of Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd.

Chime Financial Stock Down 2.0%

Shares of NASDAQ CHYM opened at $29.57 on Thursday. The firm’s fifty day moving average is $30.67 and its 200 day moving average is $24.34. Chime Financial has a 52 week low of $15.88 and a 52 week high of $35.55. The company has a market cap of $11.19 billion, a price-to-earnings ratio of -422.37 and a beta of 0.83.

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 research analysts anticipate that Chime Financial will post 0.45 earnings per share 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 18,889,108 shares of company stock worth $619,627,638 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. NFSG Corp bought a new position in shares of Chime Financial in the 3rd quarter worth approximately $27,000. Reyes Financial Architecture Inc. purchased a new position in shares of Chime Financial in the 3rd quarter valued at approximately $39,000. Nisa Investment Advisors LLC boosted its position in shares of Chime Financial by 529.7% during the third quarter. Nisa Investment Advisors LLC now owns 1,889 shares of the company’s stock valued at $50,000 after purchasing an additional 1,589 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Chime Financial by 2.4% during the third quarter. Farther Finance Advisors LLC now owns 72,666 shares of the company’s stock valued at $1,936,000 after purchasing an additional 1,672 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Chime Financial by 6.5% in the first quarter. SG Americas Securities LLC now owns 32,954 shares of the company’s stock worth $617,000 after purchasing an additional 2,002 shares during the period.

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.