UBS Group Issues Positive Forecast for Chime Financial (NASDAQ:CHYM) Stock Price

by · The Cerbat Gem

Chime Financial (NASDAQ:CHYM – Get Free Report) had its price objective upped by equities researchers at UBS Group from $31.00 to $34.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group‘s target price would indicate a potential upside of 12.66% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CHYM. Deutsche Bank Aktiengesellschaft upgraded shares of Chime Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $35.00 in a research report on Thursday, October 8th. Keefe, Bruyette & Woods upped their price objective on shares of Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Rothschild & Co Redburn raised shares of Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Monday, September 14th. Scotiabank lifted their target price on shares of Chime Financial from $42.00 to $44.00 and gave the company a “sector outperform” rating in a research note on Thursday. Finally, Canaccord Genuity Group increased their price target on Chime Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Chime Financial has a consensus rating of “Moderate Buy” and a consensus price target of $39.47.

Get Our Latest Stock Report on CHYM

Chime Financial Trading Up 1.0%

CHYM stock traded up $0.31 during trading on Thursday, hitting $30.18. The company had a trading volume of 8,299,697 shares, compared to its average volume of 5,337,908. The company has a fifty day moving average price of $30.04 and a two-hundred day moving average price of $23.85. The company has a market cap of $11.43 billion, a P/E ratio of -431.08 and a beta of 0.74. Chime Financial has a fifty-two week low of $15.88 and a fifty-two week high of $35.55.

Chime Financial (NASDAQ:CHYM – Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $718.00 million during the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) earnings per share. On average, analysts expect that Chime Financial will post 0.46 earnings per share for the current year.

Insider Transactions at Chime Financial

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the sale, the insider owned 405,663 shares of the company’s stock, valued at $13,248,953.58. This represents a 91.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 16,432,912 shares of company stock worth $541,335,425. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chime Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AMS Capital Ltda bought a new position in shares of Chime Financial in the first quarter worth about $3,439,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after purchasing an additional 2,658,816 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of Chime Financial in the second quarter valued at approximately $692,000. Hsbc Holdings PLC bought a new position in Chime Financial in the 4th quarter worth approximately $1,274,000. Finally, Brown University lifted its holdings in Chime Financial by 99.0% during the 1st quarter. Brown University now owns 204,625 shares of the company’s stock worth $3,833,000 after buying an additional 101,820 shares in the last quarter.

Trending Headlines about Chime Financial

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About Chime Financial

(Get Free Report)

Chime Financial, Inc is a financial technology company that provides digital banking services through its Chime platform. The company offers consumer-focused spending, saving and credit products designed to be accessed primarily through mobile applications rather than traditional branch locations.

Chime’s products include spending accounts with debit cards, savings accounts, direct-deposit services, early access to qualifying paychecks, fee-free overdraft protection through SpotMe, and credit-building products.

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