Chime Financial (NASDAQ:CHYM) Announces Earnings Results

Chime Financial (NASDAQ:CHYM) released its earnings results on Wednesday. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08, FiscalAI reports. The business had revenue of $596.36 million during the quarter.

Chime Financial Stock Performance

NASDAQ:CHYM traded up $0.70 during trading hours on Wednesday, reaching $21.13. The company’s stock had a trading volume of 5,468,265 shares, compared to its average volume of 3,093,976. The stock has a 50 day moving average price of $24.53 and a two-hundred day moving average price of $23.12. The company has a market capitalization of $7.91 billion and a P/E ratio of -2.84. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94.

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 6,760 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $23.84, for a total value of $161,158.40. Following the completion of the transaction, the general counsel directly owned 244,416 shares in the company, valued at approximately $5,826,877.44. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Feuille sold 176,168 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $27.12, for a total transaction of $4,777,676.16. Following the completion of the sale, the director owned 7,044,936 shares in the company, valued at $191,058,664.32. This represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 256,539 shares of company stock valued at $6,973,943.

Hedge Funds Weigh In On Chime Financial

Several hedge funds have recently modified their holdings of the stock. Galileo PTC Ltd acquired a new stake in Chime Financial in the 2nd quarter worth approximately $1,803,793,000. ICONIQ Capital LLC acquired a new position in Chime Financial during the 2nd quarter valued at approximately $518,844,000. Tiger Global Management LLC raised its holdings in shares of Chime Financial by 13.8% in the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after buying an additional 1,721,731 shares during the last quarter. Aspect Management LLC acquired a new stake in shares of Chime Financial during the fourth quarter worth $300,361,000. Finally, Dragoneer Investment Group LLC purchased a new stake in shares of Chime Financial during the second quarter valued at $295,022,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Chime Financial in a research note on Monday, November 3rd. They issued a “hold” rating and a $17.00 price target on the stock. The Goldman Sachs Group raised their target price on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Rothschild & Co Redburn assumed coverage on shares of Chime Financial in a research note on Monday, January 26th. They set a “neutral” rating and a $29.00 price target for the company. Williams Trading set a $17.00 price objective on Chime Financial in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.24.

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.