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

Deutsche Bank Aktiengesellschaft upgraded shares of Chime Financial (NASDAQ:CHYM) from a hold rating to a buy rating in a research note published on Thursday morning, MarketBeat.com reports. The brokerage currently has $35.00 target price on the stock, up from their previous target price of $30.00.

Other analysts have also recently issued reports about the company. Rothschild & Co Redburn raised Chime Financial from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Monday, September 14th. Piper Sandler lifted their price target on Chime Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, September 9th. Barclays boosted their price objective on shares of Chime Financial from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Wolfe Research upped their target price on Chime Financial from $32.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Chime Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.38.

Chime Financial Stock Up 3.9%

CHYM stock opened at $30.08 on Thursday. The business has a fifty day moving average of $30.56 and a 200-day moving average of $23.54. The company has a market cap of $11.39 billion, a P/E ratio of -429.65 and a beta of 0.83. Chime Financial has a twelve month low of $15.88 and a twelve month high of $35.55.

Chime Financial (NASDAQ:CHYM) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The firm 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%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($7.29) earnings per share. As a group, equities research analysts anticipate that Chime Financial will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Chime Financial

In related news, major shareholder Global Advisors Ltd Dst sold 4,456,157 shares of Chime Financial stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $32.66, for a total transaction of $145,538,087.62. Following the completion of the sale, the insider directly owned 405,663 shares of the company’s stock, valued at approximately $13,248,953.58. This trade represents a 91.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 18,827,490 shares of company stock worth $617,797,141 in the last 90 days. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Chime Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CHYM. Spyglass Capital Management LLC raised its position in shares of Chime Financial by 162.6% in the second 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Chime Financial by 2,720.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,756,555 shares of the company’s stock worth $51,630,000 after buying an additional 2,658,816 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of Chime Financial in the 4th quarter valued at approximately $58,214,000. Light Street Capital Management LLC grew its stake in shares of Chime Financial by 5.8% during the second quarter. Light Street Capital Management LLC now owns 2,199,089 shares of the company’s stock worth $45,037,000 after buying an additional 121,474 shares during the last quarter. Finally, Owls Nest Partners IA LLC bought a new stake in shares of Chime Financial during the fourth quarter worth $47,065,000.

About Chime Financial

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.