Canaccord Genuity Group Reaffirms Buy Rating for Chime Financial (NASDAQ:CHYM)

Key Points

• Canaccord Genuity Group has reiterated a buy rating for Chime Financial (NASDAQ:CHYM) with a target price of $40, indicating a potential upside of 123.96% from its current price.
• Chime Financial recently reported a loss of ($7.29) EPS for the previous quarter, missing expectations, although revenue increased by 37.5% year-over-year.
• The consensus rating for Chime Financial is a Moderate Buy with an average target price of $36.46, reflecting a mix of ratings from various analysts.

Chime Financial (NASDAQ:CHYM - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Canaccord Genuity Group in a report issued on Thursday,Benzinga reports. They currently have a $40.00 target price on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 123.96% from the company's current price.

Several other equities analysts have also issued reports on CHYM. Barclays assumed coverage on Chime Financial in a research note on Monday, July 7th. They issued an "overweight" rating and a $40.00 target price on the stock. Piper Sandler assumed coverage on Chime Financial in a research note on Monday, July 7th. They issued an "overweight" rating and a $40.00 target price on the stock. Compass Point assumed coverage on Chime Financial in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $33.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Chime Financial in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods cut their target price on Chime Financial from $42.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Chime Financial presently has a consensus rating of "Moderate Buy" and an average target price of $36.46.

Chime Financial Stock Performance

Shares of Chime Financial stock opened at $17.86 on Thursday. Chime Financial has a 12 month low of $17.00 and a 12 month high of $44.94. The company's fifty day moving average price is $22.20.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($7.29) EPS for the quarter, missing the consensus estimate of ($4.85) by ($2.44). The firm had revenue of $528.15 million during the quarter, compared to analysts' expectations of $503.88 million. The business's revenue for the quarter was up 37.5% on a year-over-year basis. Chime Financial has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS.

Hedge Funds Weigh In On Chime Financial

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the second quarter valued at about $33,000. Scopus Asset Management L.P. purchased a new stake in Chime Financial in the second quarter valued at approximately $34,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial in the second quarter valued at approximately $40,000. Osaic Holdings Inc. purchased a new stake in Chime Financial in the second quarter valued at approximately $45,000. Finally, Farther Finance Advisors LLC purchased a new stake in Chime Financial in the third quarter valued at approximately $50,000.

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.

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