Chime Financial (NASDAQ:CHYM) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Chime Financial (NASDAQ:CHYM) in a report published on Monday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $25.00 target price on the stock.

A number of other research firms also recently issued reports on CHYM. KeyCorp started coverage on shares of Chime Financial in a report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Chime Financial from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, February 26th. Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Sunday. Finally, UBS Group lifted their price objective on shares of Chime Financial from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.58.

Chime Financial Price Performance

Shares of NASDAQ:CHYM opened at $23.41 on Monday. The firm has a fifty day moving average price of $20.51 and a two-hundred day moving average price of $21.84. Chime Financial has a one year low of $16.17 and a one year high of $44.94. The company has a market cap of $8.99 billion and a price-to-earnings ratio of -3.10.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. Chime Financial had a negative net margin of 46.18% and a negative return on equity of 70.90%. The company had revenue of $596.36 million during the quarter. During the same period in the prior year, the firm posted ($0.30) earnings per share. The business’s revenue was up 25.5% on a year-over-year basis.

Institutional Trading of Chime Financial

Hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its stake in Chime Financial by 11.1% in the third quarter. Federated Hermes Inc. now owns 863,700 shares of the company’s stock worth $17,421,000 after purchasing an additional 86,593 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in Chime Financial by 1,203.2% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 81,450 shares of the company’s stock worth $1,643,000 after purchasing an additional 75,200 shares during the last quarter. HMI Capital Management L.P. bought a new stake in Chime Financial in the second quarter worth $43,853,000. Lunate Capital Ltd bought a new stake in Chime Financial in the third quarter worth $36,503,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Chime Financial in the third quarter worth $4,026,000.

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.