Brokerages Set Chime Financial, Inc. (NASDAQ:CHYM) Target Price at $32.28

Chime Financial, Inc. (NASDAQ:CHYM) has received an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.2778.

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. UBS Group upped 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. Rothschild & Co Redburn upgraded shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen downgraded shares of Chime Financial from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, The Goldman Sachs Group increased their price target on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th.

Chime Financial Stock Performance

Chime Financial stock opened at $19.13 on Friday. The firm has a market cap of $7.35 billion and a PE ratio of -2.53. The firm’s 50 day moving average price is $20.86 and its two-hundred day moving average price is $21.91. 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 quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.08. The firm 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 firm’s quarterly revenue was up 25.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) EPS.

Insider Transactions at Chime Financial

In other news, General Counsel Adam B. Frankel sold 4,382 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $27.29, for a total transaction of $119,584.78. Following the transaction, the general counsel owned 209,500 shares in the company, valued at $5,717,255. This represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher R. Britt sold 50,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $28.06, for a total transaction of $1,403,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,882 shares of company stock worth $1,816,685 in the last 90 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the 2nd quarter worth $33,000. Scopus Asset Management L.P. acquired a new position in shares of Chime Financial during the 2nd quarter worth $34,000. PNC Financial Services Group Inc. acquired a new position in shares of Chime Financial during the 4th quarter worth $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Chime Financial during the 2nd quarter worth $40,000. Finally, Osaic Holdings Inc. bought a new stake in shares of Chime Financial during the 2nd quarter worth $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.