Chime Financial (NASDAQ:CHYM) Earns Buy Rating from Analysts at B. Riley

Equities research analysts at B. Riley initiated coverage on shares of Chime Financial (NASDAQ:CHYM) in a report issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. B. Riley’s target price suggests a potential upside of 32.08% from the stock’s previous close.

Other analysts also recently issued reports about the company. UBS Group decreased their price target on Chime Financial from $37.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Arete Research raised Chime Financial to a “strong-buy” rating in a research report on Tuesday, September 30th. Jefferies Financial Group started coverage on shares of Chime Financial in a research note on Monday, November 3rd. They issued a “hold” rating and a $17.00 target price on the stock. The Goldman Sachs Group raised Chime Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $27.00 in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. dropped their target price 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 research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Chime Financial Stock Up 9.1%

NASDAQ CHYM opened at $26.50 on Thursday. The company has a fifty day moving average of $19.91. Chime Financial has a 12 month low of $16.17 and a 12 month high of $44.94.

Chime Financial (NASDAQ:CHYM) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. The firm had revenue of $543.52 million for the quarter. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. Chime Financial’s quarterly revenue was up 28.8% compared to the same quarter last year.

Insider Activity

In other Chime Financial news, General Counsel Adam B. Frankel sold 6,760 shares of the firm’s 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 completion of the transaction, the general counsel owned 244,416 shares of the company’s stock, valued at approximately $5,826,877.44. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Chime Financial

A number of hedge funds have recently added to or reduced their stakes in CHYM. EverSource Wealth Advisors LLC bought a new stake in shares of Chime Financial during the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new stake in shares of Chime Financial during the second quarter worth about $34,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial during the 2nd quarter valued at approximately $40,000. Osaic Holdings Inc. bought a new stake in Chime Financial in the 2nd quarter valued at $45,000. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Chime Financial in the third quarter worth about $50,000.

Chime Financial Company Profile

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.