Chime Financial (NASDAQ:CHYM) Coverage Initiated at Barclays

Equities researchers at Barclays started coverage on shares of Chime Financial (NASDAQ:CHYM) in a research report issued on Wednesday,Benzinga reports. The firm set an “overweight” rating on the stock.

CHYM has been the subject of a number of other research reports. BMO Capital Markets assumed coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They issued an “outperform” rating and a $30.00 price target for the company. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Chime Financial in a report on Monday, May 11th. Wells Fargo & Company upped their target price on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Texas Capital raised Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.88.

Chime Financial Price Performance

NASDAQ CHYM opened at $21.12 on Wednesday. The company’s 50 day simple moving average is $18.65 and its two-hundred day simple moving average is $21.38. Chime Financial has a 1 year low of $15.88 and a 1 year high of $38.67. The stock has a market capitalization of $8.05 billion and a PE ratio of -2.84.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The firm had revenue of $647.39 million for the quarter. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. On average, research analysts anticipate that Chime Financial will post 0.3 EPS for the current year.

Insider Activity at Chime Financial

In related news, General Counsel Adam B. Frankel sold 3,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Chime Financial

Several institutional investors have recently added to or reduced their stakes in CHYM. Lunate Capital Ltd bought a new stake in shares of Chime Financial in the 3rd quarter valued at about $36,503,000. Davis Selected Advisers bought a new position in Chime Financial during the 3rd quarter worth approximately $48,391,000. Farther Finance Advisors LLC grew its position in Chime Financial by 2,794.6% during the 4th quarter. Farther Finance Advisors LLC now owns 72,366 shares of the company’s stock worth $1,821,000 after acquiring an additional 69,866 shares during the last quarter. Transcend Capital Advisors LLC purchased a new position in Chime Financial in the 4th quarter worth approximately $1,286,000. Finally, Baxter Bros Inc. purchased a new position in Chime Financial in the 4th quarter worth approximately $2,799,000.

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.