Chime Financial (NASDAQ:CHYM) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Chime Financial from hold to buy, adding to a broadly positive analyst backdrop that now shows a Moderate Buy consensus and an average price target of $29.19.
• Chime shares were down 0.3% in Friday trading, opening at $20.69; the stock remains well below its 12-month high of $36.15 but above its low of $15.88.
• The company recently reported better-than-expected earnings of $0.13 EPS versus $0.03 expected, with quarterly revenue up 24.8% year over year to $647.39 million.

Chime Financial (NASDAQ:CHYM - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other research analysts have also issued research reports about the company. Texas Capital raised Chime Financial to a "strong-buy" rating in a report on Tuesday, April 14th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Chime Financial in a research report on Wednesday, June 3rd. Barclays assumed coverage on Chime Financial in a report on Wednesday, July 8th. They issued an "overweight" rating and a $26.00 target price for the company. Wells Fargo & Company upped their price target on shares of Chime Financial from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Compass Point upgraded shares of Chime Financial from a "neutral" rating to a "buy" rating and cut their price target for the company from $33.00 to $27.00 in a report on Monday, April 13th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chime Financial currently has an average rating of "Moderate Buy" and a consensus price target of $29.19.

Chime Financial Trading Down 0.3%

Shares of CHYM opened at $20.69 on Friday. Chime Financial has a twelve month low of $15.88 and a twelve month high of $36.15. The stock's 50 day moving average is $19.12 and its two-hundred day moving average is $20.98. The firm has a market capitalization of $7.88 billion and a PE ratio of -2.78.

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

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the sale, the general counsel directly owned 303,795 shares in the company, valued at approximately $5,316,412.50. The trade was a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

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

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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