Chime Financial, Inc. (NASDAQ:CHYM) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Chime Financial holds a “Moderate Buy” consensus rating from 22 analysts, with 14 buys, four strong buys, three holds and one sell. The average 12-month price target is $32.33, though several brokerages recently raised their targets as high as $38.
• Chime reported quarterly EPS of $0.07, beating the consensus estimate of a $0.01 loss, while revenue rose 26.8% year over year to $669.77 million. Shares opened at $31.66 after recently trading between $15.88 and $34.16.
• Insiders sold heavily in the latest quarter, offloading 13.68 million shares worth approximately $444.7 million, including a $38.6 million sale by major shareholder Global Advisors and a $3.4 million sale by the CEO.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-two ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, fourteen have issued a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $32.3333.

A number of brokerages have recently issued reports on CHYM. UBS Group increased their price objective on shares of Chime Financial from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, August 6th. Wolfe Research lifted their target price on shares of Chime Financial from $32.00 to $38.00 and gave the company an "outperform" rating in a research note on Tuesday, August 25th. Keefe, Bruyette & Woods upped their target price on shares of Chime Financial from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Freedom Capital upgraded Chime Financial to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, B. Riley Financial raised their price target on Chime Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, August 6th.

Chime Financial Trading Down 4.4%

Shares of NASDAQ:CHYM opened at $31.66 on Wednesday. The stock has a 50 day moving average of $25.60 and a 200 day moving average of $21.77. The company has a market cap of $11.99 billion, a PE ratio of -452.22 and a beta of 0.57. Chime Financial has a 12-month low of $15.88 and a 12-month high of $34.16.

Chime Financial (NASDAQ:CHYM - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The company had revenue of $669.77 million for the quarter. During the same quarter in the previous year, the business posted ($7.29) EPS. Chime Financial's revenue was up 26.8% on a year-over-year basis. Equities research analysts predict that Chime Financial will post 0.41 earnings per share for the current fiscal year.

Insider Activity

In other Chime Financial news, CEO Christopher R. Britt sold 100,000 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $34.03, for a total transaction of $3,403,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of Chime Financial stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the sale, the insider owned 369,370 shares in the company, valued at approximately $12,203,984.80. The trade was a 75.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,682,790 shares of company stock valued at $444,671,723 in the last quarter. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Chime Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new position in shares of Chime Financial during the 2nd quarter valued at about $693,000. Legal & General Group Plc bought a new stake in shares of Chime Financial in the second quarter worth about $136,000. Russell Investments Group Ltd. purchased a new stake in shares of Chime Financial in the second quarter worth about $958,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial in the second quarter worth about $33,000. Finally, Marshall Wace LLP bought a new position in Chime Financial during the second quarter valued at approximately $9,087,000.

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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