Chime Financial (NASDAQ:CHYM – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.
CHYM has been the subject of a number of other research reports. BMO Capital Markets lifted their price objective on Chime Financial from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. UBS Group increased their price objective on shares of Chime Financial from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Piper Sandler raised their target price on Chime Financial from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their price target on shares of Chime Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Freedom Capital upgraded Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.39.
View Our Latest Research Report on CHYM
Chime Financial Trading Up 3.6%
Chime Financial (NASDAQ:CHYM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($7.29) earnings per share. On average, equities research analysts predict that Chime Financial will post 0.41 EPS for the current year.
Insiders Place Their Bets
In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 524,661 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $32.18, for a total value of $16,883,590.98. Following the completion of the sale, the insider owned 450,640 shares in the company, valued at approximately $14,501,595.20. The trade was a 53.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher R. Britt sold 150,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $30.16, for a total transaction of $4,524,000.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 4,891,471 shares of company stock worth $156,168,157. Corporate insiders own 12.30% of the company’s stock.
Institutional Trading of Chime Financial
Several large investors have recently bought and sold shares of CHYM. EverSource Wealth Advisors LLC purchased a new stake in Chime Financial during the 2nd quarter worth about $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial during the 2nd quarter worth $34,000. PNC Financial Services Group Inc. acquired a new stake in Chime Financial during the fourth quarter worth about $25,000. Daiwa Securities Group Inc. acquired a new stake in Chime Financial during the 2nd quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company’s stock valued at $37,000 after acquiring an additional 1,276 shares during the period.
Key Headlines Impacting Chime Financial
Here are the key news stories impacting Chime Financial this week:
- Positive Sentiment: Higher earnings expectations support momentum. Zacks reported that analysts have been raising their earnings estimates for Chime, a trend that can signal improving confidence in the company’s profitability outlook. CHYM was also added to Zacks’ Rank #1 “Strong Buy” and momentum-stock lists. Earnings Estimates Moving Higher for Chime Financial
- Positive Sentiment: Morgan Stanley raised its price target. The firm increased its target from $33 to $39 and maintained an “overweight” rating, providing a bullish signal as investors assess Chime’s growth potential. Morgan Stanley Chime Financial price-target report
- Positive Sentiment: Recent results showed profitable growth. Chime’s latest quarterly report included adjusted earnings of $0.07 per share, exceeding the $0.01-per-share loss analysts expected, while revenue increased 26.8% year over year to approximately $670 million. The earnings call emphasized continued growth and progress toward profitability. Chime Financial Earnings Call Highlights Profitable Growth
- Neutral Sentiment: Management will appear at an investor conference. CEO and co-founder Chris Britt is scheduled for a fireside chat at the Goldman Sachs Communacopia + Technology Conference on September 9. The webcast could provide additional commentary on growth, customer trends and the profitability roadmap, but the event is several weeks away. Chime to Participate in Goldman Sachs Conference
- Negative Sentiment: A major shareholder has been reducing its position. Global Advisors Ltd. Dst sold more than 524,000 shares at about $32.18 after selling 713,289 shares the prior day and additional large blocks earlier in August. The disposals may create selling pressure or raise concerns about profit-taking near recent highs, although the trades do not necessarily reflect company-specific problems. Chime Financial Major Shareholder Stock Sale
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.
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