UBS Group Boosts Chime Financial (NASDAQ:CHYM) Price Target to $37.00

Key Points

• UBS Group has increased its price target for Chime Financial (NASDAQ:CHYM) from $35.00 to $37.00, suggesting a potential upside of 23.83% from its last closing price.
• Chime Financial's stock has decreased 11.8% recently, trading at $29.88 after a decline of $3.98.
• Institutional investors have been actively buying into Chime Financial, with significant new positions taken by firms including PFG Investments LLC and Jennison Associates LLC.

Chime Financial (NASDAQ:CHYM - Get Free Report) had its target price boosted by analysts at UBS Group from $35.00 to $37.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price objective suggests a potential upside of 24.33% from the stock's current price.

A number of other brokerages also recently weighed in on CHYM. Wall Street Zen raised shares of Chime Financial to a "hold" rating in a research report on Saturday, June 21st. Compass Point initiated coverage on shares of Chime Financial in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $33.00 price objective for the company. Canaccord Genuity Group initiated coverage on shares of Chime Financial in a report on Monday, July 7th. They issued a "buy" rating and a $40.00 price objective for the company. William Blair assumed coverage on Chime Financial in a research note on Monday, July 7th. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Chime Financial in a research report on Monday, July 7th. They issued an "overweight" rating and a $40.00 target price for the company. Five equities 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $38.00.

Chime Financial Trading Down 1.5%

CHYM stock traded down $0.45 during trading on Friday, reaching $29.76. The stock had a trading volume of 2,361,001 shares, compared to its average volume of 3,316,159. Chime Financial has a 1-year low of $28.21 and a 1-year high of $44.94.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($7.29) EPS for the quarter, missing analysts' consensus estimates of ($4.85) by ($2.44). The business had revenue of $528.15 million for the quarter, compared to analysts' expectations of $503.88 million. The company's revenue for the quarter was up 37.5% on a year-over-year basis.

Institutional Trading of Chime Financial

Large investors have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust bought a new stake in Chime Financial in the 2nd quarter valued at $113,000. Legal & General Group Plc acquired a new position in shares of Chime Financial in the 2nd quarter valued at $136,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Chime Financial in the 2nd quarter valued at $173,000. Hennessy Advisors Inc. acquired a new position in shares of Chime Financial in the 2nd quarter valued at $207,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Chime Financial in the 2nd quarter valued at $217,000.

Chime Financial Company Profile

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.