Tempus AI's (TEM) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Tempus AI (NASDAQ:TEM - Free Report) in a research note released on Wednesday morning,Benzinga reports. They currently have a $70.00 price objective on the stock.

Other equities analysts also recently issued reports about the company. Loop Capital lowered their price target on Tempus AI from $57.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Bank of America upped their price objective on Tempus AI from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Piper Sandler lowered their target price on Tempus AI from $70.00 to $55.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. TD Cowen reissued a "buy" rating and issued a $74.00 target price (up previously from $58.00) on shares of Tempus AI in a report on Wednesday, February 5th. Finally, Guggenheim reissued a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.50.

Tempus AI Trading Up 4.2%

Shares of TEM traded up $2.60 during trading hours on Wednesday, reaching $63.97. 12,545,096 shares of the company traded hands, compared to its average volume of 6,044,700. The firm has a market cap of $11.02 billion and a price-to-earnings ratio of -8.19. Tempus AI has a 12-month low of $22.89 and a 12-month high of $91.45. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17. The stock's fifty day moving average price is $48.39 and its 200 day moving average price is $51.05.

Tempus AI (NASDAQ:TEM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. The company had revenue of $255.74 million during the quarter, compared to analysts' expectations of $248.13 million. The business's revenue was up 75.4% on a year-over-year basis. Sell-side analysts forecast that Tempus AI will post -6.15 earnings per share for the current year.

Insider Activity

In related news, EVP Andrew Polovin sold 13,135 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $45.98, for a total transaction of $603,947.30. Following the completion of the transaction, the executive vice president now directly owns 154,171 shares in the company, valued at $7,088,782.58. This represents a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric P. Lefkofsky sold 3,240,234 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $58.75, for a total value of $190,363,747.50. Following the completion of the transaction, the chief executive officer now directly owns 4,895,589 shares of the company's stock, valued at approximately $287,615,853.75. The trade was a 39.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,237,561 shares of company stock worth $251,210,331. 27.60% of the stock is currently owned by insiders.

Institutional Trading of Tempus AI

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new stake in Tempus AI in the 4th quarter worth about $216,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tempus AI during the 4th quarter valued at about $1,091,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Tempus AI during the 4th quarter valued at about $178,000. abrdn plc acquired a new stake in Tempus AI in the 4th quarter valued at approximately $2,784,000. Finally, Dakota Wealth Management grew its holdings in Tempus AI by 189.7% in the 4th quarter. Dakota Wealth Management now owns 60,668 shares of the company's stock valued at $2,048,000 after buying an additional 39,724 shares during the last quarter. Institutional investors and hedge funds own 24.22% of the company's stock.

About Tempus AI

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.