Chime Financial, Inc.’s (NASDAQ:CHYM) Quiet Period To End on July 22nd

Chime Financial’s (NASDAQ:CHYM) quiet period is set to expire on Tuesday, July 22nd. Chime Financial had issued 32,000,000 shares in its public offering on June 12th. The total size of the offering was $864,000,000 based on an initial share price of $27.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CHYM shares. Morgan Stanley initiated coverage on shares of Chime Financial in a report on Monday, July 7th. They issued an “overweight” rating and a $39.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Chime Financial in a research note on Monday, July 7th. They issued a “neutral” rating and a $34.00 price target for the company. JPMorgan Chase & Co. started coverage on shares of Chime Financial in a report on Monday, July 7th. They set an “overweight” rating and a $40.00 price target for the company. Keefe, Bruyette & Woods began coverage on Chime Financial in a report on Tuesday, July 8th. They issued an “outperform” rating and a $42.00 price objective on the stock. Finally, Compass Point began coverage on Chime Financial in a research report on Wednesday, July 2nd. They issued a “neutral” rating and a $33.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.83.

Chime Financial Price Performance

Shares of Chime Financial stock opened at $31.63 on Thursday. Chime Financial has a 12 month low of $28.21 and a 12 month high of $44.94.

About Chime Financial

Chime is a financial technology company that partners with federally regulated, FDIC-insured banks—The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC—to provide consumer banking products and services. The company’s model is designed to eliminate common fees and simplify access to basic financial services.

Chime does not charge overdraft fees, monthly service fees, or require minimum balances.