Chime Financial (NASDAQ:CHYM) Coverage Initiated at Rothschild & Co Redburn

Stock analysts at Rothschild & Co Redburn started coverage on shares of Chime Financial (NASDAQ:CHYM) in a research note issued on Monday,Benzinga reports. The firm set a “neutral” rating and a $29.00 price target on the stock. Rothschild & Co Redburn’s price objective points to a potential upside of 9.60% from the company’s current price.

Several other equities research analysts also recently commented on CHYM. JPMorgan Chase & Co. decreased their target price on shares of Chime Financial from $40.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a report on Thursday, October 30th. The Goldman Sachs Group increased their price objective on Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. B. Riley assumed coverage on Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Arete Research initiated coverage on shares of Chime Financial in a research note on Tuesday, September 30th. They issued a “buy” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial currently has a consensus rating of “Moderate Buy” and an average target price of $32.24.

Chime Financial Stock Performance

Shares of NASDAQ:CHYM opened at $26.46 on Monday. The business’s 50 day simple moving average is $24.51 and its two-hundred day simple moving average is $24.76. The firm has a market cap of $9.91 billion and a P/E ratio of -3.56. Chime Financial has a 52-week low of $16.17 and a 52-week high of $44.94.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $543.52 million for the quarter. During the same period last year, the company posted ($0.34) EPS. The firm’s quarterly revenue was up 28.8% on a year-over-year basis.

Insiders Place Their Bets

In other news, Director James Feuille sold 7,229 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $24.82, for a total value of $179,423.78. Following the completion of the sale, the director directly owned 7,037,707 shares of the company’s stock, valued at approximately $174,675,887.74. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew S. Newcomb sold 10,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $28.01, for a total transaction of $280,100.00. Following the transaction, the chief financial officer owned 2,240,798 shares in the company, valued at $62,764,751.98. This represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 256,539 shares of company stock valued at $6,973,943 in the last 90 days.

Institutional Trading of Chime Financial

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC bought a new position in shares of Chime Financial in the 2nd quarter worth about $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the second quarter valued at $34,000. Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial in the second quarter worth approximately $40,000. Osaic Holdings Inc. purchased a new stake in Chime Financial during the 2nd quarter valued at $45,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Chime Financial in the 3rd quarter worth $50,000.

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.