Chime Financial (NASDAQ:CHYM) Given Buy Rating at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed a "Buy" rating for Chime Financial, setting a price target of $40.00, indicating a potential upside of 38.46% from its previous close.
• Chime Financial's stock is currently valued at $28.89, with a 52-week range between $28.21 and $44.94, and a reported earnings miss of ($7.29) per share compared to a consensus of ($4.85).
• Recent analyst ratings show nine buy ratings and one strong buy rating, while the average price target among analysts is $38.00, reflecting a general consensus towards a positive outlook for the company.

Canaccord Genuity Group reaffirmed their buy rating on shares of Chime Financial (NASDAQ:CHYM - Free Report) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $40.00 target price on the stock.

Several other equities analysts have also commented on CHYM. Seaport Res Ptn raised Chime Financial to a "strong-buy" rating in a research report on Monday, June 30th. Evercore ISI assumed coverage on shares of Chime Financial in a research note on Monday, July 7th. They issued an "outperform" rating and a $38.00 price target on the stock. William Blair assumed coverage on shares of Chime Financial in a research note on Monday, July 7th. They issued an "outperform" rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Chime Financial in a research note on Thursday, July 17th. They issued a "hold" rating and a $35.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Chime Financial to a "hold" rating in a research note on Saturday, June 21st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Chime Financial has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Chime Financial Trading Down 0.1%

Shares of CHYM stock traded down $0.03 during trading on Monday, hitting $29.22. The company had a trading volume of 1,175,720 shares, compared to its average volume of 3,199,250. Chime Financial has a 52 week low of $28.20 and a 52 week high of $44.94. The business's 50-day simple moving average is $32.02.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($7.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.85) by ($2.44). The firm had revenue of $528.15 million for the quarter, compared to analysts' expectations of $503.88 million. The company's revenue was up 37.5% on a year-over-year basis.

Institutional Investors Weigh In On Chime Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. Orland Properties Ltd purchased a new position in shares of Chime Financial in the second quarter valued at $159,093,000. Maytus Capital Management LLC bought a new stake in shares of Chime Financial during the second quarter worth $2,069,000. Light Street Capital Management LLC bought a new stake in shares of Chime Financial during the second quarter worth $23,934,000. LMR Partners LLP bought a new stake in shares of Chime Financial during the second quarter worth $4,831,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Chime Financial in the second quarter valued at about $790,000.

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.