Chime Financial (NASDAQ:CHYM) Price Target Raised to $30.00

Chime Financial (NASDAQ:CHYM) had its target price boosted by The Goldman Sachs Group from $27.00 to $30.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

CHYM has been the topic of a number of other research reports. Jefferies Financial Group began coverage on shares of Chime Financial in a report on Monday, November 3rd. They set a “hold” rating and a $17.00 price objective on the stock. Williams Trading set a $17.00 price target on shares of Chime Financial in a research note on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Chime Financial in a report on Wednesday, October 8th. Piper Sandler dropped their price objective on shares of Chime Financial from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Chime Financial from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.44.

Chime Financial Price Performance

CHYM stock opened at $27.70 on Tuesday. The business has a fifty day moving average price of $22.88 and a 200 day moving average price of $25.24. Chime Financial has a fifty-two week low of $16.17 and a fifty-two week high of $44.94. The stock has a market capitalization of $10.38 billion and a price-to-earnings ratio of -3.72.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.10. The business had revenue of $543.52 million for the quarter. During the same quarter in the previous year, the firm earned ($0.34) EPS. The business’s revenue was up 28.8% on a year-over-year basis.

Insider Activity at Chime Financial

In other Chime Financial news, Director James Feuille sold 176,168 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $27.12, for a total value of $4,777,676.16. Following the transaction, the director directly owned 7,044,936 shares of the company’s stock, valued at approximately $191,058,664.32. This trade represents a 2.44% 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 the SEC website. Also, General Counsel Adam B. Frankel sold 6,760 shares of Chime Financial stock in a transaction on Monday, December 8th. The stock was sold at an average price of $23.84, for a total transaction of $161,158.40. Following the sale, the general counsel directly owned 244,416 shares of the company’s stock, valued at $5,826,877.44. This represents a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 191,657 shares of company stock worth $5,157,258 over the last 90 days.

Institutional Investors Weigh In On Chime Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHYM. Galileo PTC Ltd acquired a new position in Chime Financial in the second quarter valued at about $1,803,793,000. ICONIQ Capital LLC bought a new stake in shares of Chime Financial in the 2nd quarter valued at about $518,844,000. Dragoneer Investment Group LLC acquired a new stake in shares of Chime Financial in the 2nd quarter valued at approximately $295,022,000. Capital Research Global Investors boosted its stake in Chime Financial by 90.0% during the 3rd quarter. Capital Research Global Investors now owns 6,878,057 shares of the company’s stock worth $138,730,000 after acquiring an additional 3,258,179 shares during the last quarter. Finally, Orland Properties Ltd acquired a new position in Chime Financial during the second quarter valued at approximately $159,093,000.

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.