Chime Financial, Inc. (NASDAQ:CHYM) Stock Has Average Target Price of $36.40

Chime Financial, Inc. (NASDAQ:CHYM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $36.53.

Several research analysts recently weighed in on CHYM shares. Weiss Ratings upgraded Chime Financial from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. UBS Group boosted their price objective on Chime Financial from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Wolfe Research boosted their price objective on Chime Financial from $32.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. KeyCorp lifted their target price on Chime Financial from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Finally, Scotiabank boosted their price target on Chime Financial from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a report on Wednesday, September 9th.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $26.84 on Friday. The company has a market capitalization of $10.16 billion, a P/E ratio of -383.37 and a beta of 0.84. Chime Financial has a 1-year low of $15.88 and a 1-year high of $35.55. The firm’s 50 day simple moving average is $29.82 and its two-hundred day simple moving average is $23.19.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm had revenue of $669.77 million during the quarter. During the same period last year, the company earned ($7.29) earnings per share. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. On average, sell-side analysts anticipate that Chime Financial will post 0.44 earnings per share for the current fiscal year.

Insider Activity at Chime Financial

In related news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the transaction, the insider owned 405,663 shares in the company, valued at approximately $13,248,953.58. This represents a 91.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 18,827,490 shares of company stock valued at $617,797,141 over the last quarter. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Chime Financial

Several hedge funds have recently bought and sold shares of the stock. Spyglass Capital Management LLC raised its position in shares of Chime Financial by 162.6% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company’s stock valued at $69,760,000 after buying an additional 2,109,057 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after acquiring an additional 2,658,816 shares in the last quarter. Ieq Capital LLC bought a new stake in Chime Financial during the fourth quarter worth approximately $58,214,000. Light Street Capital Management LLC increased its stake in Chime Financial by 5.8% during the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock worth $45,037,000 after acquiring an additional 121,474 shares during the last quarter. Finally, Owls Nest Partners IA LLC purchased a new stake in Chime Financial during the fourth quarter valued at approximately $47,065,000.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company’s product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.