Chime Financial (NASDAQ:CHYM) Hits New 12-Month High - Still a Buy?

Key Points

• Chime Financial shares reached a new 52-week high of $34.44 and were last trading near $33.81, giving the company a market capitalization of approximately $12.65 billion.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and price target of $32.74; several firms recently raised targets, including Canaccord Genuity’s increase to $45.
• Chime reported quarterly revenue of $669.77 million, up 26.8% year over year, and earnings of $0.07 per share versus expectations for a loss. However, insiders have sold roughly 13.7 million shares worth $444.7 million over the past 90 days.

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $34.44 and last traded at $33.8120, with a volume of 289894 shares changing hands. The stock had previously closed at $33.41.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Freedom Capital raised Chime Financial to a "strong-buy" rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price target on Chime Financial from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Canaccord Genuity Group lifted their price target on Chime Financial from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Scotiabank began coverage on Chime Financial in a research note on Wednesday. They issued a "sector outperform" rating and a $40.00 price objective on the stock. Finally, Piper Sandler upped their price objective on Chime Financial from $30.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.74.

Chime Financial Trading Up 0.0%

The stock has a market capitalization of $12.65 billion, a PE ratio of -477.77 and a beta of 0.60. The firm's 50-day simple moving average is $25.92 and its two-hundred day simple moving average is $21.87.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.08. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.The company had revenue of $669.77 million for the quarter. During the same quarter in the prior year, the company earned ($7.29) EPS. Chime Financial's revenue for the quarter was up 26.8% on a year-over-year basis. As a group, research analysts expect that Chime Financial, Inc. will post 0.41 earnings per share for the current year.

Insider Activity at Chime Financial

In other news, CEO Christopher R. Britt sold 100,000 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $34.03, for a total value of $3,403,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the transaction, the insider directly owned 369,370 shares of the company's stock, valued at approximately $12,203,984.80. This represents a 75.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,682,790 shares of company stock valued at $444,671,723. Corporate insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Chime Financial

Several institutional investors and hedge funds have recently bought and sold shares of CHYM. PNC Financial Services Group Inc. acquired a new position in Chime Financial during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Chime Financial in the 2nd quarter valued at $33,000. Scopus Asset Management L.P. acquired a new stake in shares of Chime Financial in the 2nd quarter valued at $34,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Chime Financial by 686.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company's stock worth $37,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Chime Financial during the 2nd quarter worth about $40,000.

About Chime Financial

Chime Financial is a U.S.-based financial technology company offering mobile-first banking services designed to reduce fees and simplify everyday transactions. Founded in 2013 and headquartered in San Francisco, Chime operates a digital bank platform that provides customers with a checking account, a savings account, and a debit card without monthly maintenance fees, overdraft charges, or foreign transaction fees. The company’s platform is accessible via its mobile app, enabling users to manage their finances, track spending, and access customer support from their smartphones.

At the core of Chime’s service offering is its fee-free spending account, which includes early access to direct deposit funds—up to two days before scheduled payday—and instant transaction alerts.

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