Chime Financial (NASDAQ:CHYM) Stock Price Up 7% – Should You Buy?

Shares of Chime Financial, Inc. (NASDAQ:CHYM) traded up 7% on Friday . The stock traded as high as $19.35 and last traded at $19.5580. Approximately 1,245,829 shares were traded during trading, a decline of 71% from the average session volume of 4,329,631 shares. The stock had previously closed at $18.27.

Wall Street Analysts Forecast Growth

CHYM has been the topic of several analyst reports. Keefe, Bruyette & Woods raised shares of Chime Financial from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, February 26th. KeyCorp assumed coverage on Chime Financial in a research report on Wednesday, March 4th. They set an “overweight” rating and a $30.00 price objective for the company. UBS Group boosted their price objective on shares of Chime Financial from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 26th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Chime Financial in a research report on Monday, May 11th. Finally, BMO Capital Markets assumed coverage on shares of Chime Financial in a research note on Wednesday, April 22nd. They set an “outperform” rating and a $30.00 target price for the company. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Chime Financial has a consensus rating of “Moderate Buy” and an average price target of $31.65.

Chime Financial Trading Up 10.0%

The company has a market cap of $7.66 billion and a PE ratio of -2.70. The company has a fifty day simple moving average of $19.06 and a two-hundred day simple moving average of $21.63.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $647.39 million during the quarter. Chime Financial had a negative return on equity of 67.86% and a negative net margin of 41.87%.Chime Financial’s revenue was up 24.8% compared to the same quarter last year. On average, research analysts anticipate that Chime Financial, Inc. will post 0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Chime Financial news, General Counsel Adam B. Frankel sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $17.50, for a total transaction of $52,500.00. Following the sale, the general counsel owned 303,795 shares of the company’s stock, valued at approximately $5,316,412.50. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in Chime Financial in the second quarter valued at $693,000. Legal & General Group Plc acquired a new position in shares of Chime Financial in the 2nd quarter valued at $136,000. Russell Investments Group Ltd. purchased a new stake in shares of Chime Financial during the 2nd quarter valued at $958,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Chime Financial during the 2nd quarter valued at $33,000. Finally, Marshall Wace LLP acquired a new stake in shares of Chime Financial during the 2nd quarter worth $9,087,000.

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.