Chime Financial Inc. shares surged to a 52-week high of $33.81 on Thursday, closing within 0.98% of the prior peak at $33.74.
The fintech company’s stock has gained nearly 50% over the past six months and 26.38% year-over-year, reflecting strong operational momentum. Second-quarter revenue rose 27% from the prior year, while active members increased 20% to 10.4 million. Adjusted EBITDA margin expanded to 15%, underscoring improving profitability.
Analysts at Wolfe Research and Morgan Stanley raised their price targets following Chime’s earnings performance. Wolfe Research lifted its target to $32 with an Outperform rating, while Morgan Stanley increased its target to $33, citing accelerating user growth and profitability from credit products and the Chime Prime tier.
Goldman Sachs highlighted that Chime had one of the most significant upward revisions in earnings-per-share estimates among fintech peers. The firm also noted the company’s strategic push into stablecoin integration, with Chime requesting proposals from blockchain technology providers for stablecoin wallet services, according to Bloomberg.
Chief Financial Officer Matthew Newcomb announced his departure from the company. The executive’s exit follows a period of rapid growth and heightened investor interest in Chime’s digital banking model.
InvestingPro analysis indicated that Chime’s shares appear overvalued relative to their fair value estimate, though the platform flagged strong returns across multiple timeframes.
