Piper Sandler Has Lowered Expectations for Chime Financial (NASDAQ:CHYM) Stock Price

Chime Financial (NASDAQ:CHYM) had its target price reduced by equities researchers at Piper Sandler from $35.00 to $30.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 47.49% from the company’s previous close.

A number of other brokerages also recently issued reports on CHYM. William Blair reissued an “outperform” rating on shares of Chime Financial in a research report on Tuesday, September 30th. Arete Research upgraded Chime Financial to a “strong-buy” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group cut their price target on Chime Financial from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Arete assumed coverage on Chime Financial in a research note on Tuesday, September 30th. They issued a “buy” rating and a $34.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Chime Financial in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average target price of $31.93.

Chime Financial Stock Up 12.4%

Shares of Chime Financial stock traded up $2.25 during trading hours on Thursday, reaching $20.34. 12,976,747 shares of the stock traded hands, compared to its average volume of 3,593,507. Chime Financial has a one year low of $16.17 and a one year high of $44.94. The business’s 50 day moving average is $21.01.

Chime Financial (NASDAQ:CHYM) last announced its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The business had revenue of $543.52 million for the quarter. During the same period last year, the business earned ($0.34) EPS. The company’s revenue for the quarter was up 28.8% compared to the same quarter last year. Chime Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Institutional Investors Weigh In On Chime Financial

Institutional investors have recently added to or reduced their stakes in the stock. Galileo PTC Ltd purchased a new position in Chime Financial in the second quarter worth about $1,803,793,000. ICONIQ Capital LLC purchased a new position in shares of Chime Financial in the 2nd quarter worth approximately $518,844,000. Dragoneer Investment Group LLC bought a new position in shares of Chime Financial during the 2nd quarter valued at approximately $295,022,000. Orland Properties Ltd purchased a new stake in Chime Financial during the 2nd quarter valued at $159,093,000. Finally, Scge Management L.P. purchased a new stake in Chime Financial during the 2nd quarter valued at $152,563,000.

About Chime Financial

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.