Chime Financial (NASDAQ:CHYM) Now Covered by Rothschild & Co Redburn

Equities researchers at Rothschild & Co Redburn began coverage on shares of Chime Financial (NASDAQ:CHYM) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “neutral” rating and a $29.00 price target on the stock. Rothschild & Co Redburn’s target price points to a potential upside of 9.60% from the stock’s previous close.

A number of other brokerages also recently issued reports on CHYM. B. Riley started coverage on shares of Chime Financial in a report on Thursday, December 11th. They issued a “buy” rating and a $35.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Chime Financial in a report on Tuesday, September 30th. Canaccord Genuity Group reissued a “buy” rating and set a $40.00 price target on shares of Chime Financial in a research note on Thursday, October 30th. Jefferies Financial Group started coverage on Chime Financial in a research note on Monday, November 3rd. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on Chime Financial from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and a consensus target price of $32.24.

Chime Financial Stock Down 2.0%

NASDAQ CHYM opened at $26.46 on Monday. Chime Financial has a 52 week low of $16.17 and a 52 week high of $44.94. The company has a market capitalization of $9.91 billion and a P/E ratio of -3.56. The stock’s 50-day moving average price is $24.51 and its 200-day moving average price is $24.76.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. The business had revenue of $543.52 million for the quarter. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.34) earnings per share.

Insider Activity at Chime Financial

In related news, Director James Feuille sold 7,229 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $24.82, for a total value of $179,423.78. Following the completion of the sale, the director owned 7,037,707 shares in the company, valued at approximately $174,675,887.74. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher R. Britt sold 50,000 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $28.06, for a total transaction of $1,403,000.00. The SEC filing for this sale provides additional information. Insiders sold 256,539 shares of company stock valued at $6,973,943 in the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial during the second quarter worth about $33,000. Scopus Asset Management L.P. purchased a new position in shares of Chime Financial during the 2nd quarter valued at about $34,000. Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial during the 2nd quarter worth approximately $40,000. Osaic Holdings Inc. purchased a new position in shares of Chime Financial during the 2nd quarter valued at approximately $45,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Chime Financial in the 3rd quarter valued at $50,000.

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.