Chime Financial (NASDAQ:CHYM) Upgraded at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn upgraded Chime Financial to “buy” from “neutral” and set a $46 price target, implying 39.39% upside from the reported $33 share price.
• Analyst sentiment is broadly positive: Chime has an average “Buy” rating and a consensus price target of $35.85, with several firms recently raising their targets.
• Chime reported quarterly EPS of $0.07, beating estimates by $0.08, while revenue rose 26.8% year over year to $669.77 million. However, insiders sold nearly 14 million shares worth about $455.2 million over the past 90 days.

Chime Financial (NASDAQ:CHYM - Get Free Report) was upgraded by equities research analysts at Rothschild & Co Redburn from a "neutral" rating to a "buy" rating in a report issued on Monday, Benzinga reports. The firm currently has a $46.00 price target on the stock. Rothschild & Co Redburn's target price indicates a potential upside of 39.39% from the company's current price.

CHYM has been the subject of a number of other reports. KeyCorp boosted their price objective on shares of Chime Financial from $33.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, September 9th. Wolfe Research lifted their target price on shares of Chime Financial from $32.00 to $38.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. Morgan Stanley boosted their price target on shares of Chime Financial from $39.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 9th. Wells Fargo & Company upped their price target on shares of Chime Financial from $33.00 to $39.00 and gave the company an "overweight" rating in a research report on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods raised their price objective on Chime Financial from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $35.85.

Chime Financial Price Performance

Shares of CHYM stock opened at $33.00 on Monday. The business has a 50-day moving average price of $27.73 and a two-hundred day moving average price of $22.52. Chime Financial has a 12-month low of $15.88 and a 12-month high of $35.55. The firm has a market cap of $12.49 billion, a P/E ratio of -471.36 and a beta of 0.60.

Chime Financial (NASDAQ:CHYM - Get Free Report) last announced 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. The firm had revenue of $669.77 million for the quarter. Chime Financial had a negative return on equity of 1.28% and a negative net margin of 0.74%.Chime Financial's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the company posted ($7.29) earnings per share. As a group, research analysts expect that Chime Financial will post 0.44 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 4,456,157 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $32.66, for a total value of $145,538,087.62. Following the sale, the insider owned 405,663 shares of the company's stock, valued at $13,248,953.58. This trade represents a 91.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan A. King sold 375,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $30.27, for a total transaction of $11,351,250.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 13,998,346 shares of company stock worth $455,195,655. 12.30% of the stock is owned by insiders.

Institutional Trading of Chime Financial

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

Chime Financial Company Profile

Chime Financial, Inc is a financial technology company that operates a digital banking platform in the United States. Chime provides consumer-focused banking services through its mobile application and website, offering checking and savings accounts, debit cards, direct-deposit services and tools designed to help customers manage their everyday finances. Chime is not a traditional bank; its banking services are provided through partner financial institutions.

The company's products include a Visa debit card, fee-free overdraft protection through SpotMe for eligible members, early access to qualifying direct deposits, savings features and credit-building products.

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