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

Chime Financial, Inc. (NASDAQ:CHYM) shares hit 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 traded. The stock had previously closed at $33.41.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wolfe Research boosted their price objective on Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Weiss Ratings lowered Chime Financial from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 20th. Zacks Research raised Chime Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Scotiabank initiated coverage on shares of Chime Financial in a research report on Wednesday. They set a “sector outperform” rating and a $40.00 price target on the stock. Finally, Wall Street Zen raised shares of Chime Financial from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chime Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.74.

Chime Financial Trading Up 0.0%

The stock has a 50 day moving average price of $25.92 and a two-hundred day moving average price of $21.87. The company has a market cap of $12.65 billion, a price-to-earnings ratio of -477.77 and a beta of 0.60.

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

Insider Buying and Selling at Chime Financial

In other Chime Financial news, major shareholder Global Advisors Ltd Dst sold 1,168,667 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 369,370 shares in the company, valued at approximately $12,203,984.80. This represents a 75.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher R. Britt sold 100,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $34.03, for a total value of $3,403,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,682,790 shares of company stock valued at $444,671,723 in the last three months. 12.30% of the stock is owned by insiders.

Institutional Trading of Chime Financial

Large investors have recently added to or reduced their stakes in the company. Aspect Management LLC acquired a new stake in Chime Financial in the 4th quarter valued at about $300,361,000. Orland Properties Ltd acquired a new position in Chime Financial during the second quarter worth approximately $159,093,000. Scge Management L.P. bought a new stake in Chime Financial in the second quarter valued at approximately $152,563,000. California State Teachers Retirement System bought a new stake in Chime Financial in the second quarter valued at approximately $59,367,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Chime Financial by 2,720.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock valued at $51,630,000 after buying an additional 2,658,816 shares during the last quarter.

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.