On August 11, Chime Financial, Inc. rose 5.14% in regular trading, trading at $30.65/share, with turnover of $88.50 million. The rebound follows a technical recovery after the stock had pulled back over 5% last week due to broader sector weakness in transaction and payment processing services.

The upward move is attributed to the lingering positive impact of the company's Q2 earnings report. Chime posted Q2 EPS of $0.07, swinging from a loss of $7.29 a year earlier and beating the consensus estimate of $0.00. Revenue came in at $669.8 million, up 27% year-over-year and exceeding the $641.3 million analyst estimate. The company raised its full-year revenue guidance to $2.725 billion–$2.745 billion, above the prior range and the FactSet consensus of $2.68 billion. B. Riley subsequently raised its price target from $35 to $37, maintaining a Buy rating. Active users grew 20% to 10.4 million, while average revenue per active user rose to $260.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)