Chime Financial (NASDAQ:CHYM) Rating Increased to Strong-Buy at Barclays

Key Points

• Barclays upgraded Chime Financial to “strong-buy”, adding to a generally positive analyst backdrop for the stock. Overall, MarketBeat says the company now has a consensus rating of Moderate Buy with a target price of $29.65.
• Chime shares rose 1.6% and opened at $21.31 on Tuesday. The stock remains well below its 52-week high of $38.67, though above its 52-week low of $15.88.
• In its latest earnings report, Chime posted $0.13 EPS, beating estimates of $0.03, while revenue climbed 24.8% year over year to $647.39 million. Despite the growth, the company still reported negative profitability metrics, including a negative net margin and negative return on equity.

Chime Financial (NASDAQ:CHYM - Get Free Report) was upgraded by equities researchers at Barclays to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Wall Street Zen upgraded Chime Financial from a "hold" rating to a "buy" rating in a research report on Sunday, April 12th. Compass Point upgraded Chime Financial from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $33.00 to $27.00 in a report on Monday, April 13th. Texas Capital raised Chime Financial to a "strong-buy" rating in a research report on Tuesday, April 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Chime Financial in a report on Wednesday, June 3rd. Finally, BMO Capital Markets initiated coverage on Chime Financial in a research report on Wednesday, April 22nd. They issued an "outperform" rating and a $30.00 price target for the company. Five analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.65.

Chime Financial Stock Up 1.6%

Shares of NASDAQ:CHYM opened at $21.31 on Tuesday. The firm has a fifty day simple moving average of $18.62 and a two-hundred day simple moving average of $21.31. Chime Financial has a 52 week low of $15.88 and a 52 week high of $38.67. The stock has a market capitalization of $8.12 billion and a P/E ratio of -2.87.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The firm had revenue of $647.39 million for the quarter. The business's revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts expect that Chime Financial will post 0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares of the company's stock, valued at approximately $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CHYM. EverSource Wealth Advisors LLC purchased a new position in Chime Financial during the 2nd quarter worth $33,000. Scopus Asset Management L.P. bought a new position in shares of Chime Financial during the 2nd quarter worth $34,000. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial during the 4th quarter worth $25,000. Daiwa Securities Group Inc. purchased a new position in shares of Chime Financial during the second quarter valued at $40,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company's stock valued at $37,000 after buying an additional 1,276 shares during the period.

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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