Chime Financial (NASDAQ:CHYM – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.
A number of other brokerages have also recently commented on CHYM. Wells Fargo & Company upped their price target on Chime Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. BMO Capital Markets initiated coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 price objective on the stock. Barclays initiated coverage on shares of Chime Financial in a report on Wednesday. They set an “overweight” rating and a $26.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a report on Monday, May 11th. Finally, Compass Point raised shares of Chime Financial from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $33.00 to $27.00 in a research report on Monday, April 13th. Five investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.65.
Check Out Our Latest Report on CHYM
Chime Financial Trading Down 1.8%
Chime Financial (NASDAQ:CHYM – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.The business had revenue of $647.39 million during the quarter. The company’s revenue was up 24.8% compared to the same quarter last year. Equities analysts forecast that Chime Financial will post 0.3 EPS for the current fiscal year.
Insider Transactions at Chime Financial
In other Chime Financial 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 sale, the general counsel directly owned 303,795 shares in the company, valued at approximately $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 accessible through this link. Insiders own 12.30% of the company’s stock.
Institutional Investors Weigh In On Chime Financial
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new position in Chime Financial in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial in the 2nd quarter valued at about $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial in the 2nd quarter valued at about $34,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Chime Financial by 686.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Chime Financial in 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.
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