Chime Financial (NASDAQ:CHYM) Stock Price Down 1.5% - Should You Sell?

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report)'s stock price fell 1.5% during trading on Thursday . The company traded as low as $30.30 and last traded at $30.58. 452,405 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 4,322,314 shares. The stock had previously closed at $31.03.

Analysts Set New Price Targets

A number of brokerages have recently commented on CHYM. Canaccord Genuity Group began coverage on Chime Financial in a research report on Monday. They issued a "buy" rating and a $40.00 price objective for the company. Wolfe Research began coverage on Chime Financial in a research report on Monday. They issued an "outperform" rating and a $38.00 price objective for the company. Compass Point began coverage on Chime Financial in a research report on Wednesday, July 2nd. They issued a "neutral" rating and a $33.00 price objective for the company. UBS Group began coverage on Chime Financial in a research report on Monday. They issued a "neutral" rating and a $35.00 price objective for the company. Finally, Piper Sandler began coverage on Chime Financial in a research report on Monday. They issued an "overweight" rating and a $40.00 price objective for the company. Five research 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. According to MarketBeat.com, Chime Financial has a consensus rating of "Moderate Buy" and a consensus target price of $37.83.

Chime Financial Stock Down 0.7%

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.