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

Wall Street Zen upgraded shares of Chime Financial (NASDAQ:CHYM) from a hold rating to a buy rating in a report issued on Saturday.

A number of other analysts have also recently issued reports on the company. Compass Point raised Chime Financial from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $33.00 to $27.00 in a research report on Monday, April 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Chime Financial in a report on Wednesday, June 3rd. Texas Capital raised Chime Financial to a “strong-buy” rating in a research note on Tuesday, April 14th. Canaccord Genuity Group restated a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a report on Monday, May 11th. Finally, Wells Fargo & Company raised their price objective on shares of Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chime Financial presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

Chime Financial Stock Performance

Chime Financial stock opened at $21.86 on Friday. Chime Financial has a twelve month low of $15.88 and a twelve month high of $35.34. The firm has a market cap of $8.33 billion and a PE ratio of -2.94. The firm’s 50 day moving average price is $19.20 and its two-hundred day moving average price is $20.90.

Chime Financial (NASDAQ:CHYM) last issued its earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Chime Financial had a negative net margin of 41.87% and a negative return on equity of 67.86%. The company had revenue of $647.39 million during the quarter. Chime Financial’s quarterly revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that Chime Financial will post 0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $17.50, for a total transaction of $52,500.00. Following the transaction, the general counsel directly owned 303,795 shares in the company, valued at $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Chime Financial

Several large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new position in shares of Chime Financial during the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial in the 2nd quarter worth approximately $34,000. PNC Financial Services Group Inc. bought a new stake in Chime Financial during the fourth quarter worth approximately $25,000. Daiwa Securities Group Inc. bought a new stake in Chime Financial during the second quarter worth approximately $40,000. Finally, Osaic Holdings Inc. acquired a new position in Chime Financial during the second quarter valued at approximately $45,000.

About Chime Financial

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.