Chime Financial (NASDAQ:CHYM) Now Covered by Analysts at KeyCorp

Equities research analysts at KeyCorp began coverage on shares of Chime Financial (NASDAQ:CHYM) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $30.00 price target on the stock. KeyCorp’s price target suggests a potential upside of 33.21% from the company’s previous close.

Several other equities analysts also recently commented on CHYM. UBS Group raised their target price on Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Chime Financial from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Jefferies Financial Group began coverage on Chime Financial in a report on Monday, November 3rd. They set a “hold” rating and a $17.00 target price on the stock. Williams Trading set a $17.00 price objective on Chime Financial in a research note on Monday, November 3rd. Finally, B. Riley Financial 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 for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.28.

Chime Financial Price Performance

Chime Financial stock opened at $22.52 on Tuesday. Chime Financial has a fifty-two week low of $16.17 and a fifty-two week high of $44.94. The firm has a fifty day moving average price of $24.12 and a two-hundred day moving average price of $22.86. The firm has a market cap of $8.44 billion and a price-to-earnings ratio of -2.98.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative return on equity of 70.35% and a negative net margin of 46.18%.The business had revenue of $596.36 million for the quarter. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. The company’s revenue for the quarter was up 25.5% on a year-over-year basis.

Insider Buying and Selling

In other news, CFO Matthew S. Newcomb sold 10,000 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $28.01, for a total transaction of $280,100.00. Following the completion of the sale, the chief financial officer directly owned 2,240,798 shares in the company, valued at approximately $62,764,751.98. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Adam B. Frankel sold 6,760 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $23.84, for a total transaction of $161,158.40. Following the sale, the general counsel owned 244,416 shares in the company, valued at $5,826,877.44. This represents a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 256,539 shares of company stock worth $6,973,943 in the last quarter.

Institutional Investors Weigh In On Chime Financial

A number of institutional investors have recently made changes to their positions in CHYM. Galileo PTC Ltd acquired a new position in shares of Chime Financial in the second quarter worth approximately $1,803,793,000. ICONIQ Capital LLC acquired a new stake in shares of Chime Financial during the second quarter worth $518,844,000. Tiger Global Management LLC raised its stake in Chime Financial by 13.8% during the fourth quarter. Tiger Global Management LLC now owns 14,192,499 shares of the company’s stock worth $357,225,000 after buying an additional 1,721,731 shares during the last quarter. Aspect Management LLC bought a new stake in Chime Financial during the fourth quarter valued at $300,361,000. Finally, Dragoneer Investment Group LLC acquired a new stake in Chime Financial during the 2nd quarter worth about $295,022,000.

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.