Chime Financial (NASDAQ:CHYM) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Chime Financial (NASDAQ:CHYM) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report released on Thursday, Briefing.com reports. The firm currently has a $35.00 target price on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 25.31% from the company’s current price.

CHYM has been the subject of a number of other research reports. Wolfe Research increased their price objective 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 upped their price target on Chime Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 9th. Rothschild & Co Redburn upgraded Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Monday, September 14th. Wall Street Zen raised Chime Financial from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, Scotiabank boosted their price objective on Chime Financial from $40.00 to $42.00 and gave the company a “sector outperform” rating in a report on Wednesday, September 9th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chime Financial presently has a consensus rating of “Moderate Buy” and an average target price of $36.38.

Chime Financial Price Performance

NASDAQ CHYM 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 firm’s 50-day moving average is $30.29 and its two-hundred day moving average is $23.42. Chime Financial has a 12 month low of $15.88 and a 12 month high of $35.55.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business 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%. Chime Financial’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($7.29) earnings per share. As a group, analysts anticipate that Chime Financial will post 0.44 EPS for the current year.

Insider Activity at Chime Financial

In other Chime Financial news, Director James Feuille sold 256,837 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $32.33, for a total value of $8,303,540.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia Marshall sold 20,000 shares of the company’s stock in a transaction 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 sale, the director directly owned 28,548 shares in the company, valued at $944,653.32. This represents a 41.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,827,490 shares of company stock worth $617,797,141 over the last 90 days. 12.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHYM. Murphy & Mullick Capital Management Corp purchased a new stake in Chime Financial during the 1st quarter worth about $44,000. PNC Financial Services Group Inc. boosted its stake in shares of Chime Financial by 835.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,394 shares of the company’s stock valued at $176,000 after buying an additional 8,390 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of Chime Financial during the first quarter worth about $189,000. Kestra Private Wealth Services LLC acquired a new position in shares of Chime Financial during the first quarter worth about $294,000. Finally, Affinity Capital Advisors LLC purchased a new stake in shares of Chime Financial during the second quarter worth approximately $325,000.

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.