On September 2, Chime Financial, Inc. rose 5.02% in regular trading, trading at $33.25/share, with turnover of $144 million. The rally was driven by Scotiabank initiating coverage of the company with a Sector Outperform rating, further bolstering analyst sentiment.

According to FactSet, the stock currently carries an average analyst rating of Buy with a mean price target of $35, implying additional upside from current levels. Earlier, B. Riley raised its price target from $35 to $37 while maintaining a Buy rating. The growing consensus reflects confidence in the company's fundamental trajectory following a strong Q2 report, in which revenue reached $669.8 million, up 27% year-over-year and above the $641.3 million estimate, while EPS of $0.07 marked a swing to profitability versus a loss of $7.29 a year prior. Management also raised full-year revenue guidance to $2.725 billion–$2.745 billion, above the FactSet consensus of $2.68 billion.

The broader fintech sector traded higher on the session, with Affirm up 6.16%, Block up 6.01%, and PayPal up 3.48%, providing a supportive backdrop.

(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.)