Chime Financial, Inc. (NASDAQ:CHYM) Stock Has Consensus Target Price of $36.38 According to Brokerages

Key Points

• Chime Financial has a “Moderate Buy” consensus rating from 23 analysts, with 17 buys and three strong buys. The average 12-month price target is $36.38, above the stock’s reported opening price of $30.37.
• Several brokerages recently raised their price targets, including Scotiabank to $42, Piper Sandler and KeyCorp to $40, and Rothschild & Co Redburn to $46.
• Insiders sold approximately $619.3 million worth of shares over the past three months, including a major shareholder’s sale of 4.46 million shares. Separately, Chime reported quarterly revenue of $669.77 million, up 26.8% year over year, and beat EPS expectations.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-three ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $36.38.

CHYM has been the topic of several analyst reports. Scotiabank boosted their price target on shares of Chime Financial from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Wednesday, September 9th. Piper Sandler increased their price objective on shares of Chime Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, September 9th. Wolfe Research lifted their target price on shares of Chime Financial from $32.00 to $38.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. KeyCorp lifted their target price on shares of Chime Financial from $33.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 9th. Finally, Rothschild & Co Redburn upgraded Chime Financial from a "hold" rating to a "buy" rating and set a $46.00 target price on the stock in a research note on Monday, September 14th.

Insider Activity

In related news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the sale, the insider directly owned 405,663 shares of the company's stock, valued at approximately $13,248,953.58. This trade represents a 91.66% 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. Insiders sold 18,877,790 shares of company stock valued at $619,276,441 over the last three months. Corporate insiders own 12.30% of the company's stock.

Institutional Trading of Chime Financial

A number of hedge funds have recently bought and sold shares of CHYM. Nisa Investment Advisors LLC boosted its holdings in shares of Chime Financial by 529.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,889 shares of the company's stock worth $50,000 after buying an additional 1,589 shares during the last quarter. Penn Mutual Asset Management bought a new position in Chime Financial during the third quarter valued at about $6,711,000. IFP Advisors Inc bought a new position in Chime Financial during the third quarter valued at about $73,000. NFSG Corp bought a new position in Chime Financial during the third quarter valued at about $27,000. Finally, Curated Wealth Partners LLC bought a new position in Chime Financial during the third quarter valued at about $303,000.

Chime Financial Price Performance

NASDAQ CHYM opened at $30.37 on Thursday. Chime Financial has a 1 year low of $15.88 and a 1 year high of $35.55. The firm has a market cap of $11.50 billion, a price-to-earnings ratio of -433.80 and a beta of 0.83. The company has a fifty day moving average price of $30.76 and a 200-day moving average price of $24.23.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate 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 during the quarter. During the same quarter in the prior year, the company earned ($7.29) EPS. The business's revenue for the quarter was up 26.8% on a year-over-year basis. On average, research analysts anticipate that Chime Financial will post 0.45 EPS for the current fiscal year.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime's products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.

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