Digital bank Chime rises after Seaport starts coverage at 'buy'

Digital bank Chime Financial's CHYM.O shares rise 0.8% to $33.33 premarket after Seaport Research starts coverage with "buy" rating

Brokerage says CHYM passing 10 million active members will put it firmly on the path to sustaining its profitability

Seaport anticipates CHYM will grow annual revenue in the high 20%-low 30% range over the next two years

CHYM's sales multiple is reasonable compared with others in its fintech coverage, brokerage says

Seaport's $37 PT on CHYM represents 11.9% upside to stock's last close

CHYM went public in New York earlier this month after $864 million IPO

As of last close, CHYM shares up 22.4% since debut on June 12