Analysts Set Chime Financial, Inc. (NASDAQ:CHYM) Price Target at $32.33

Chime Financial, Inc. (NASDAQ:CHYM) has earned an average recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and four have issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $32.7368.

CHYM has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Chime Financial from $26.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods lifted their price target on Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Wells Fargo & Company boosted their price objective on Chime Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, August 25th. Barclays upped their price objective on shares of Chime Financial from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, UBS Group raised their target price on shares of Chime Financial from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th.

Chime Financial Stock Performance

Shares of NASDAQ:CHYM opened at $33.76 on Wednesday. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of -482.22 and a beta of 0.60. Chime Financial has a 1-year low of $15.88 and a 1-year high of $34.44. The company has a 50 day moving average price of $26.49 and a 200 day moving average price of $22.05.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. The company had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.Chime Financial’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted ($7.29) EPS. On average, sell-side analysts expect that Chime Financial will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $33.04, for a total value of $38,612,757.68. Following the completion of the transaction, the insider owned 369,370 shares of the company’s stock, valued at approximately $12,203,984.80. This trade represents a 75.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Christopher R. Britt sold 200,000 shares of Chime Financial stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $32.04, for a total transaction of $6,408,000.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,882,790 shares of company stock worth $451,079,723 in the last 90 days. 12.30% of the stock is owned by company insiders.

Institutional Trading of Chime Financial

Hedge funds have recently modified their holdings of the business. AMS Capital Ltda purchased a new stake in Chime Financial in the 1st quarter worth about $3,439,000. Arrowstreet Capital Limited Partnership boosted its position in Chime Financial by 2,720.3% during the 1st 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 during the period. Hsbc Holdings PLC purchased a new position in Chime Financial during the 4th quarter valued at about $1,274,000. Brown University grew its stake in Chime Financial by 99.0% during the 1st quarter. Brown University now owns 204,625 shares of the company’s stock valued at $3,833,000 after acquiring an additional 101,820 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Chime Financial by 115.0% in the 1st quarter. Bank of America Corp DE now owns 319,579 shares of the company’s stock valued at $5,986,000 after purchasing an additional 170,941 shares during the period.

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.