Chime Financial (NASDAQ:CHYM) Upgraded at Wall Street Zen
by Mitch Edgeman · The Markets DailyWall Street Zen upgraded shares of Chime Financial (NASDAQ:CHYM – Free Report) from a hold rating to a buy rating in a research report report published on Sunday morning.
Several other equities analysts also recently weighed in on CHYM. KeyCorp started 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. UBS Group lifted their price target on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 26th. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Rothschild & Co Redburn raised shares of Chime Financial to a “hold” rating in a research note on Monday, January 26th. Finally, The Goldman Sachs Group lifted their price target on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and a consensus target price of $31.58.
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Chime Financial Stock Performance
NASDAQ CHYM opened at $22.26 on Friday. The company has a market cap of $8.55 billion and a P/E ratio of -2.94. The business’s 50 day moving average price is $20.48 and its 200-day moving average price is $21.83. Chime Financial has a fifty-two week low of $16.17 and a fifty-two week 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 firm 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%.The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.30) EPS.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in Chime Financial in the second quarter worth approximately $33,000. Scopus Asset Management L.P. bought a new position in Chime Financial in the second quarter worth approximately $34,000. PNC Financial Services Group Inc. purchased a new stake in Chime Financial in the fourth quarter worth about $25,000. Daiwa Securities Group Inc. purchased a new stake in Chime Financial in the second quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock worth $37,000 after acquiring an additional 1,276 shares during the period.
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.