Wells Fargo & Company Issues Positive Forecast for Chime Financial (NASDAQ:CHYM) Stock Price

Key Points

• Wells Fargo raised Chime Financial’s price target from $33 to $39 and maintained an “overweight” rating, implying approximately 19.27% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Chime has a “Moderate Buy” consensus rating and an average price target of $32, supported by multiple recent target increases from major firms.
• Chime reported quarterly EPS of $0.07 versus expectations for a $0.01 loss, while revenue rose 26.8% year over year to $669.77 million; however, insiders have sold more than 10.5 million shares worth approximately $341.2 million over the past 90 days.

Chime Financial (NASDAQ:CHYM - Get Free Report) had its price target raised by investment analysts at Wells Fargo & Company from $33.00 to $39.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 19.27% from the stock's current price.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Chime Financial from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Barclays increased their price target on Chime Financial from $26.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Keefe, Bruyette & Woods raised their target price on shares of Chime Financial from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Piper Sandler upped their target price on shares of Chime Financial from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Finally, B. Riley Financial raised their price objective on Chime Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

Chime Financial Trading Down 0.2%

NASDAQ CHYM opened at $32.70 on Tuesday. Chime Financial has a 12 month low of $15.88 and a 12 month high of $33.74. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of -467.08 and a beta of 0.30. The company's 50 day moving average is $23.69 and its two-hundred day moving average is $21.29.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm had revenue of $669.77 million for the quarter. During the same quarter in the previous year, the business earned ($7.29) earnings per share. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. Sell-side analysts forecast that Chime Financial will post 0.41 EPS for the current year.

Insider Activity

In related news, insider Ryan A. King sold 375,000 shares of Chime Financial stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $30.27, for a total value of $11,351,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the sale, the insider directly owned 405,663 shares of the company's stock, valued at approximately $13,248,953.58. This trade represents a 91.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,558,165 shares of company stock worth $341,244,743. Company insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Chime Financial

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the second quarter valued at approximately $33,000. Scopus Asset Management L.P. bought a new stake in Chime Financial during the 2nd quarter valued at $34,000. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial in the 4th quarter valued at $25,000. Daiwa Securities Group Inc. bought a new position in shares of Chime Financial in the 2nd quarter worth $40,000. Finally, Osaic Holdings Inc. bought a new stake in Chime Financial during the second quarter valued at about $45,000.

Chime Financial Company Profile

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.

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