Chime Financial (NASDAQ:CHYM) Sets New 52-Week High - Still a Buy?

Chime Financial, Inc. (NASDAQ:CHYM - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $33.81 and last traded at $33.8370, with a volume of 1021262 shares trading hands. The stock had previously closed at $33.15.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Chime Financial from $26.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Barclays raised their price objective on Chime Financial from $26.00 to $33.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. B. Riley Financial boosted their price objective on Chime Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Piper Sandler increased their target price on Chime Financial from $30.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Keefe, Bruyette & Woods raised their target price on Chime Financial from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.33.

Chime Financial Price Performance

The stock has a 50-day moving average price of $24.35 and a 200-day moving average price of $21.46. The firm has a market capitalization of $12.82 billion, a PE ratio of -483.29 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS 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 firm had revenue of $669.77 million during the quarter. During the same period in the prior year, the company posted ($7.29) EPS. The company's revenue for the quarter was up 26.8% on a year-over-year basis. As a group, equities research analysts predict that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Chime Financial

In related news, major shareholder Global Advisors Ltd Dst sold 80,914 shares of Chime Financial stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $33.06, for a total value of $2,675,016.84. Following the completion of the sale, the insider owned 380,298 shares in the company, valued at approximately $12,572,651.88. The trade was a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 12,414,123 shares of company stock worth $402,655,966 over the last three months. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. bought a new position in shares of Chime Financial during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC bought a new stake in Chime Financial in the second quarter valued at about $33,000. Scopus Asset Management L.P. acquired a new stake in Chime Financial during the second quarter valued at approximately $34,000. Caitong International Asset Management Co. Ltd raised its stake in Chime Financial by 686.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,462 shares of the company's stock valued at $37,000 after buying an additional 1,276 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Chime Financial during the 2nd quarter worth approximately $40,000.

Chime Financial Company Profile

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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