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

Tempus AI (NASDAQ:TEM - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $70.00 price objective on the stock. Needham & Company LLC's price objective would suggest a potential upside of 34.13% from the company's previous close.

A number of other research analysts have also commented on the company. Guggenheim reissued a "buy" rating on shares of Tempus AI in a report on Tuesday, February 25th. TD Cowen reissued a "buy" rating and set a $74.00 price target (up from $58.00) on shares of Tempus AI in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lowered shares of Tempus AI from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $50.00 to $55.00 in a research report on Tuesday, February 25th. Piper Sandler dropped their price objective on shares of Tempus AI from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, William Blair reaffirmed a "market perform" rating on shares of Tempus AI in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.08.

Tempus AI Stock Down 3.5 %

TEM stock opened at $52.19 on Wednesday. The company has a debt-to-equity ratio of 8.17, a current ratio of 2.69 and a quick ratio of 2.55. The firm has a fifty day moving average price of $47.88 and a 200 day moving average price of $50.70. Tempus AI has a fifty-two week low of $22.89 and a fifty-two week high of $91.45.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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% compared to the same quarter last year. Sell-side analysts forecast that Tempus AI will post -6.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Erik Phelps sold 61,582 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $82.36, for a total transaction of $5,071,893.52. Following the transaction, the executive vice president now owns 153,080 shares of the company's stock, valued at approximately $12,607,668.80. The trade was a 28.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $45.54, for a total value of $136,620.00. Following the sale, the director now owns 26,514 shares of the company's stock, valued at approximately $1,207,447.56. The trade was a 10.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,297,949 shares of company stock worth $255,591,733 over the last quarter. 27.60% of the stock is currently owned by company insiders.

Institutional Trading of Tempus AI

Institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its holdings in shares of Tempus AI by 12.7% in the 1st quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company's stock valued at $89,000 after purchasing an additional 208 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Tempus AI by 13.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,384 shares of the company's stock worth $80,000 after acquiring an additional 278 shares during the period. Bartlett & CO. Wealth Management LLC raised its position in Tempus AI by 100.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 800 shares of the company's stock worth $39,000 after acquiring an additional 400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tempus AI by 10.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,594 shares of the company's stock valued at $268,000 after purchasing an additional 515 shares during the period. Finally, Cherry Tree Wealth Management LLC bought a new position in Tempus AI in the 1st quarter valued at about $31,000. 24.22% of the stock is owned by institutional investors and hedge funds.

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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