Goldman Sachs analyst Will Nance maintained a Hold rating on Chime Financial, Inc. Class A yesterday and set a price target of $34.00.
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Will Nance’s rating is based on the assessment that Chime Financial, Inc. is a leading neobank catering to underserved customers, with strong underlying fundamentals and a compelling customer value proposition. However, the current lack of profitability poses a challenge for the stock’s performance in the short term.
To justify a higher rating, investors would need to see Chime demonstrate effective cost management and realize potential growth from its credit products. The potential for upside exists, particularly if the company can capitalize on lending opportunities, but these factors currently warrant a Hold rating until more concrete financial improvements are observed.
In another report released on July 1, Compass Point also initiated coverage with a Hold rating on the stock with a $33.00 price target.