Chime Financial (NASDAQ:CHYM) Upgraded to Strong-Buy at Barclays

Barclays upgraded shares of Chime Financial (NASDAQ:CHYMFree Report) to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. BMO Capital Markets began coverage on shares of Chime Financial in a research report on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 target price for the company. Texas Capital upgraded shares of Chime Financial to a “strong-buy” rating in a research report on Tuesday, April 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Chime Financial in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Chime Financial from a “hold” rating to a “buy” rating in a research report on Sunday, April 12th. Finally, Wells Fargo & Company lifted their target price on shares of Chime Financial from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.65.

Check Out Our Latest Stock Report on Chime Financial

Chime Financial Trading Up 1.6%

NASDAQ CHYM opened at $21.31 on Tuesday. The business’s 50-day moving average price is $18.62 and its two-hundred day moving average price is $21.31. Chime Financial has a 12 month low of $15.88 and a 12 month high of $38.67. The firm has a market capitalization of $8.12 billion and a PE ratio of -2.87.

Chime Financial (NASDAQ:CHYMGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The company had revenue of $647.39 million during the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.Chime Financial’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, analysts forecast that Chime Financial will post 0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the completion of the sale, the general counsel owned 303,795 shares of the company’s stock, valued at $5,316,412.50. This trade represents a 0.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CHYM. JPMorgan Chase & Co. acquired a new stake in Chime Financial in the second quarter worth $693,000. Legal & General Group Plc acquired a new position in shares of Chime Financial during the second quarter valued at about $136,000. Russell Investments Group Ltd. acquired a new position in shares of Chime Financial during the second quarter valued at about $958,000. EverSource Wealth Advisors LLC bought a new position in shares of Chime Financial during the 2nd quarter worth about $33,000. Finally, Marshall Wace LLP bought a new position in shares of Chime Financial during the 2nd quarter worth about $9,087,000.

About Chime Financial

(Get Free Report)

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.

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Analyst Recommendations for Chime Financial (NASDAQ:CHYM)

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