Chime Financial, Inc. Class A, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Will Nance from Goldman Sachs upgraded the rating on the stock to a Buy and gave it a $27.00 price target.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Will Nance has given his Buy rating due to a combination of factors including the anticipated expansion in take rates and the expectation of high incremental margins. The adoption of the Chime Card is projected to create favorable conditions over multiple years, enhancing the company’s revenue streams.
Additionally, these factors are expected to accelerate the company’s GAAP profitability timeline, surpassing consensus expectations. This positive outlook on profitability and growth prospects underpins the Buy recommendation for Chime Financial, Inc. Class A stock.
In another report released on November 13, Morgan Stanley also maintained a Buy rating on the stock with a $40.00 price target.