Tempus AI (NASDAQ:TEM) Price Target Raised to $68.00 at Morgan Stanley

Key Points

• Morgan Stanley raised its price target for Tempus AI (NASDAQ:TEM) from $65.00 to $68.00, indicating an expected upside of 11.81% from the current stock price.
• Other firms such as Guggenheim and Bank of America have also raised their targets, with Guggenheim setting a target of $75.00 and Bank of America at $70.00.
• Tempus AI reported a revenue increase of 89.5% year-over-year, with a quarterly revenue of $314.64 million, slightly exceeding analyst expectations.

Tempus AI (NASDAQ:TEM - Get Free Report) had its target price boosted by stock analysts at Morgan Stanley from $65.00 to $68.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price objective would indicate a potential upside of 11.81% from the stock's current price.

A number of other research firms have also weighed in on TEM. Guggenheim upped their price objective on Tempus AI from $65.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. BTIG Research initiated coverage on Tempus AI in a research report on Friday. They issued a "buy" rating and a $60.00 target price on the stock. Bank of America boosted their target price on Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Piper Sandler reiterated a "neutral" rating on shares of Tempus AI in a research report on Friday. Finally, Needham & Company LLC restated a "buy" rating and set a $70.00 price objective on shares of Tempus AI in a research report on Friday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $65.36.

Tempus AI Stock Performance

NASDAQ:TEM opened at $60.82 on Tuesday. The firm has a market capitalization of $10.53 billion, a PE ratio of -51.11 and a beta of 4.98. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71. The stock has a 50-day simple moving average of $62.41 and a two-hundred day simple moving average of $58.14. Tempus AI has a 52-week low of $31.36 and a 52-week high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. The firm had revenue of $314.64 million during the quarter, compared to analyst estimates of $296.84 million. Tempus AI had a negative return on equity of 157.53% and a negative net margin of 20.98%. The business's quarterly revenue was up 89.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($6.86) earnings per share. Analysts forecast that Tempus AI will post -6.15 EPS for the current year.

Insider Transactions at Tempus AI

In related news, Director Jennifer A. Doudna sold 625 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $62.52, for a total value of $39,075.00. Following the transaction, the director owned 26,554 shares of the company's stock, valued at $1,660,156.08. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ryan Fukushima sold 5,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief operating officer directly owned 145,000 shares in the company, valued at approximately $8,700,000. This trade represents a 3.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 758,772 shares of company stock valued at $51,005,175. Company insiders own 27.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC lifted its position in Tempus AI by 35.9% during the 1st quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company's stock worth $361,867,000 after acquiring an additional 1,981,755 shares during the period. Vanguard Group Inc. lifted its position in Tempus AI by 6,247.5% during the 1st quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company's stock worth $289,204,000 after acquiring an additional 5,900,668 shares during the period. Nikko Asset Management Americas Inc. lifted its position in Tempus AI by 31.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after acquiring an additional 1,021,460 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock worth $205,284,000 after acquiring an additional 1,016,384 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in shares of Tempus AI by 236.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 943,718 shares of the company's stock valued at $31,860,000 after buying an additional 663,018 shares during the last quarter. 24.22% of the stock is currently owned by hedge funds and other institutional investors.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.

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