Chime Financial (NASDAQ:CHYM) Rating Lowered to “Hold” at Wall Street Zen

Chime Financial (NASDAQ:CHYM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

CHYM has been the subject of several other research reports. Keefe, Bruyette & Woods raised Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. KeyCorp assumed coverage on shares of Chime Financial in a research note on Wednesday, March 4th. They set an “overweight” rating and a $30.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. UBS Group upped their target price on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Finally, Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chime Financial has an average rating of “Moderate Buy” and a consensus price target of $32.28.

Chime Financial Price Performance

CHYM stock opened at $19.24 on Friday. The business has a 50 day moving average of $21.16 and a 200 day moving average of $21.97. The firm has a market cap of $7.39 billion and a PE ratio of -2.54. Chime Financial has a twelve month low of $16.17 and a twelve month high of $44.94.

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

Insider Activity at Chime Financial

In related news, CEO Christopher R. Britt sold 50,000 shares of Chime Financial stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total value of $1,403,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew S. Newcomb sold 10,000 shares of Chime Financial stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.01, for a total value of $280,100.00. Following the completion of the sale, the chief financial officer owned 2,240,798 shares of the company’s stock, valued at $62,764,751.98. The trade was a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,882 shares of company stock valued at $1,816,685 over the last ninety days.

Institutional Trading of Chime Financial

A number of large investors have recently made changes to their positions in CHYM. EverSource Wealth Advisors LLC bought a new position in Chime Financial during the second quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial in the 2nd quarter worth approximately $34,000. PNC Financial Services Group Inc. purchased a new stake in Chime Financial during the 4th quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial during the 2nd quarter valued at $40,000. Finally, Osaic Holdings Inc. bought a new position in shares of Chime Financial during the 2nd quarter valued at $45,000.

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.