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

Key Points

• Wall Street Zen upgraded Chime Financial (NASDAQ:CHYM) from a "hold" to a "buy", adding to a wave of recent analyst upgrades and target‑price increases.
• Analyst consensus shows two Strong Buy, eleven Buy, five Hold and one Sell, with an average rating of “Moderate Buy” and an average price target of $32.28.
• Chime beat Q results with EPS of ‑$0.12 versus a consensus ‑$0.20 and revenue up 25.5% to $596.36M, but remains unprofitable (ROE ‑70.90%, net margin ‑46.18%).

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

CHYM has been the topic of several other reports. Keefe, Bruyette & Woods upgraded Chime Financial from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, February 26th. UBS Group lifted their target price on Chime Financial from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, February 26th. The Goldman Sachs Group lifted their target price on Chime Financial from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. Rothschild & Co Redburn upgraded Chime Financial to a "hold" rating in a research report on Monday, January 26th. Finally, KeyCorp assumed coverage on Chime Financial in a research report on Wednesday, March 4th. They set an "overweight" rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chime Financial currently has an average rating of "Moderate Buy" and an average price target of $32.28.

Chime Financial Price Performance

CHYM opened at $19.61 on Friday. The firm has a market cap of $7.53 billion and a price-to-earnings ratio of -2.59. The stock's 50 day simple moving average is $20.52 and its 200 day simple moving average is $21.83. Chime Financial has a 1 year low of $16.17 and a 1 year high of $44.94.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.08. The company had revenue of $596.36 million for the quarter. Chime Financial had a negative return on equity of 70.90% and a negative net margin of 46.18%.Chime Financial's revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) earnings per share.

Institutional Investors Weigh In On Chime Financial

Hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. increased its stake in Chime Financial by 11.1% during the third quarter. Federated Hermes Inc. now owns 863,700 shares of the company's stock worth $17,421,000 after acquiring an additional 86,593 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in Chime Financial by 1,203.2% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 81,450 shares of the company's stock worth $1,643,000 after acquiring an additional 75,200 shares during the last quarter. HMI Capital Management L.P. bought a new stake in Chime Financial during the second quarter worth approximately $43,853,000. Lunate Capital Ltd bought a new stake in Chime Financial during the third quarter worth approximately $36,503,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Chime Financial during the third quarter worth approximately $4,026,000.

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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