Chime Financial (NASDAQ:CHYM) Price Target Raised to $39.00

Chime Financial (NASDAQ:CHYM) had its price objective lifted by Wells Fargo & Company from $33.00 to $39.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the company. BMO Capital Markets increased their target price on Chime Financial from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Freedom Capital raised shares of Chime Financial to a “strong-buy” rating in a research note on Thursday, July 23rd. Wolfe Research reiterated an “outperform” rating and set a $32.00 price objective on shares of Chime Financial in a report on Thursday, August 6th. Canaccord Genuity Group lifted their price objective on shares of Chime Financial from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, B. Riley Financial raised their target price on shares of Chime Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Four analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Chime Financial Stock Performance

CHYM opened at $33.36 on Tuesday. The stock’s 50 day moving average price is $24.66 and its 200-day moving average price is $21.54. Chime Financial has a one year low of $15.88 and a one year high of $33.97. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of -476.50 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The firm had revenue of $669.77 million during the quarter. During the same period in the prior year, the business posted ($7.29) earnings per share. Chime Financial’s revenue was up 26.8% on a year-over-year basis. As a group, analysts predict that Chime Financial will post 0.41 earnings per share for the current fiscal year.

Insider Transactions at Chime Financial

In other news, major shareholder Global Advisors Ltd Dst sold 80,914 shares of Chime Financial stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $33.06, for a total value of $2,675,016.84. Following the transaction, the insider directly owned 380,298 shares in the company, valued at approximately $12,572,651.88. This trade represents a 17.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 12,414,123 shares of company stock worth $402,655,966. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chime Financial

Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new stake in Chime Financial during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC bought a new position in Chime Financial in the second quarter worth about $33,000. Scopus Asset Management L.P. bought a new position in Chime Financial in the second quarter worth about $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after buying an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Chime Financial during the second quarter valued at about $40,000.

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.