Chime Financial (NASDAQ:CHYM) Reaches New 52-Week High – Time to Buy?

Shares of Chime Financial, Inc. (NASDAQ:CHYM) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.44 and last traded at $33.8120, with a volume of 289894 shares traded. The stock had previously closed at $33.41.

Analyst Ratings Changes

CHYM has been the topic of a number of research reports. Piper Sandler upped their price target on Chime Financial from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods increased their target price on Chime Financial from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. B. Riley Financial lifted their price target on shares of Chime Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Freedom Capital upgraded shares of Chime Financial to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings downgraded shares of Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 20th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chime Financial presently has an average rating of “Moderate Buy” and an average target price of $32.74.

Chime Financial Stock Performance

The company’s 50 day moving average price is $26.49 and its 200-day moving average price is $22.05. The stock has a market cap of $12.78 billion, a P/E ratio of -482.22 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The firm had revenue of $669.77 million during the quarter. During the same quarter last year, the business posted ($7.29) EPS. The company’s quarterly revenue was up 26.8% on a year-over-year basis. On average, analysts forecast that Chime Financial, Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Chime Financial

In other news, CEO Christopher Britt sold 200,000 shares of Chime Financial stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $32.04, for a total transaction of $6,408,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $33.04, for a total transaction of $38,612,757.68. Following the transaction, the insider owned 369,370 shares of the company’s stock, valued at approximately $12,203,984.80. The trade was a 75.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,882,790 shares of company stock valued at $451,079,723. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Chime Financial

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in Chime Financial during the second quarter valued at $33,000. Scopus Asset Management L.P. bought a new stake in shares of Chime Financial in the second quarter valued at $34,000. PNC Financial Services Group Inc. purchased a new position in shares of Chime Financial during the 4th quarter valued at $25,000. Daiwa Securities Group Inc. bought a new position in shares of Chime Financial during the 2nd quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in 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 acquiring an additional 1,276 shares during 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.