Wall Street Zen Upgrades Chime Financial (NASDAQ:CHYM) to “Buy”

Chime Financial (NASDAQ:CHYM) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. KeyCorp started coverage on shares of Chime Financial in a research note on Wednesday, March 4th. They issued an “overweight” rating and a $30.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. UBS Group lifted their price objective on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 26th. Finally, Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.58.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $21.28 on Friday. The company’s 50 day simple moving average is $20.47 and its 200 day simple moving average is $21.82. The stock has a market capitalization of $8.17 billion and a price-to-earnings ratio of -2.81. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. The business had revenue of $596.36 million for the quarter. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The business’s revenue was up 25.5% compared to the same quarter last year. During the same period last year, the business earned ($0.30) earnings per share.

Institutional Trading of Chime Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Tiger Global Management LLC boosted its position in Chime Financial by 13.8% in the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock valued at $357,225,000 after buying an additional 1,721,731 shares in the last quarter. Aspect Management LLC acquired a new stake in Chime Financial in the fourth quarter valued at approximately $300,361,000. Capital Research Global Investors boosted its position in Chime Financial by 90.0% in the third quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock valued at $138,730,000 after buying an additional 3,258,179 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Chime Financial in the fourth quarter valued at approximately $129,091,000. Finally, Orland Properties Ltd acquired a new stake in Chime Financial in the second quarter valued at approximately $159,093,000.

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.