Chime Financial (NASDAQ:CHYM) Price Target Raised to $28.00 at Wells Fargo & Company

Chime Financial (NASDAQ:CHYM) had its price objective hoisted by Wells Fargo & Company from $25.00 to $28.00 in a report issued on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts also recently commented on CHYM. KeyCorp began coverage on Chime Financial in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective for the company. BMO Capital Markets began coverage on Chime Financial in a research report on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price objective for the company. Keefe, Bruyette & Woods upgraded Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. Rothschild & Co Redburn raised Chime Financial to a “hold” rating in a report on Monday, January 26th. Finally, UBS Group raised their target price on Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chime Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.65.

Chime Financial Price Performance

NASDAQ:CHYM traded down $0.52 during mid-day trading on Thursday, reaching $18.49. The stock had a trading volume of 3,232,986 shares, compared to its average volume of 4,204,789. The stock has a market cap of $7.10 billion and a P/E ratio of -2.50. The business’s 50 day moving average is $20.99 and its 200 day moving average is $22.08. Chime Financial has a fifty-two week low of $16.17 and a fifty-two week high of $44.94.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $647.39 million for the quarter. Chime Financial had a negative return on equity of 68.06% and a negative net margin of 41.87%.Chime Financial’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts expect that Chime Financial will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Chime Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial during the second quarter worth $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the second quarter worth $34,000. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial in the 4th quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial in the 2nd quarter valued at $40,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Chime Financial in the 2nd quarter valued at $45,000.

Chime Financial Company Profile

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.