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

Chime Financial, Inc. (NASDAQ:CHYM)’s share price reached a new 52-week high on Thursday . The company traded as high as $33.81 and last traded at $33.8370, with a volume of 1021262 shares. The stock had previously closed at $33.15.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Zacks Research upgraded shares of Chime Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 18th. Canaccord Genuity Group lifted their target price on shares of Chime Financial from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their price target on Chime Financial from $33.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded Chime Financial from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chime Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Chime Financial Stock Down 0.5%

The firm’s 50-day simple moving average is $24.97 and its 200-day simple moving average is $21.62. The firm has a market capitalization of $12.57 billion, a PE ratio of -474.22 and a beta of 0.31.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, topping 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 business had revenue of $669.77 million for the quarter. During the same period last year, the firm earned ($7.29) earnings per share. Chime Financial’s revenue for the quarter was up 26.8% on a year-over-year basis. On average, equities research analysts forecast that Chime Financial, Inc. will post 0.41 earnings per share for the current year.

Insider Activity at Chime Financial

In related news, insider Ryan A. King sold 375,000 shares of Chime Financial stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $30.27, for a total value of $11,351,250.00. The sale was disclosed in a filing with the SEC, 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 4,456,157 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the transaction, the insider owned 405,663 shares in the company, valued at $13,248,953.58. The trade was a 91.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,582,790 shares of company stock worth $441,268,723 in the last 90 days. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Chime Financial

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

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.