Chime Financial (NASDAQ:CHYM) Upgraded at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank upgraded Chime Financial to “buy” from “hold” and set a $35 price target, implying approximately 25.3% upside from the stock’s current price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $36.38; multiple firms have recently raised ratings or targets.
• Chime reported better-than-expected quarterly earnings of $0.07 per share and 26.8% year-over-year revenue growth, although insiders have sold about $617.8 million worth of shares over the past 90 days.

Chime Financial (NASDAQ:CHYM - Get Free Report) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a "hold" rating to a "buy" rating in a note issued to investors on Thursday, Briefing.com reports. The firm currently has a $35.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 25.31% from the stock's current price.

A number of other research firms have also recently commented on CHYM. Freedom Capital raised shares of Chime Financial to a "strong-buy" rating in a research note on Thursday, July 23rd. KeyCorp raised their price target on shares of Chime Financial from $33.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, September 9th. Zacks Research upgraded Chime Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 18th. Morgan Stanley boosted their price objective on Chime Financial from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 9th. Finally, B. Riley Financial increased their target price on Chime Financial from $37.00 to $44.00 and gave the company a "buy" rating in a report on Monday, September 14th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Chime Financial currently has an average rating of "Moderate Buy" and a consensus price target of $36.38.

Chime Financial Stock Performance

Chime Financial stock opened at $27.93 on Thursday. The stock has a market capitalization of $10.57 billion, a P/E ratio of -398.94 and a beta of 0.83. The company's fifty day moving average price is $30.29 and its 200 day moving average price is $23.42. Chime Financial has a 1 year low of $15.88 and a 1 year high of $35.55.

Chime Financial (NASDAQ:CHYM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. The company had revenue of $669.77 million during the quarter. Chime Financial had a negative net margin of 0.74% and a negative return on equity of 1.28%. The business's revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($7.29) earnings per share. Sell-side analysts predict that Chime Financial will post 0.44 EPS for the current year.

Insider Buying and Selling

In other news, Director Cynthia Marshall sold 20,000 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $33.09, for a total value of $661,800.00. Following the completion of the sale, the director directly owned 28,548 shares in the company, valued at $944,653.32. This represents a 41.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Shawn T. Carolan sold 277,007 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $33.05, for a total value of $9,155,081.35. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,827,490 shares of company stock worth $617,797,141 in the last 90 days. Corporate insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Chime Financial

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of Chime Financial by 2,720.3% in the 1st 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 period. Ieq Capital LLC purchased a new stake in shares of Chime Financial during the 4th quarter valued at approximately $58,214,000. Spyglass Capital Management LLC raised its position in shares of Chime Financial by 162.6% during the 2nd quarter. Spyglass Capital Management LLC now owns 3,406,249 shares of the company's stock valued at $69,760,000 after buying an additional 2,109,057 shares during the period. Owls Nest Partners IA LLC acquired a new position in Chime Financial in the fourth quarter valued at approximately $47,065,000. Finally, Atreides Management LP acquired a new position in Chime Financial in the fourth quarter valued at approximately $37,850,000.

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that provides digital banking services to consumers in the United States. Through its mobile app and website, Chime offers spending accounts, savings products, debit cards and tools designed to help members manage everyday finances without relying on traditional bank branches.

The company's product offerings have included fee-conscious checking and savings accounts, early direct-deposit access, automatic savings features, overdraft-related services such as SpotMe, and Chime Credit Builder, a secured credit card intended to help eligible members establish or improve their credit history.

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