Tempus AI, Inc. (NASDAQ:TEM) Receives $65.36 Average Target Price from Analysts

Tempus AI, Inc. (NASDAQ:TEM) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $65.3636.

Several brokerages have recently commented on TEM. Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of Tempus AI in a report on Friday, August 8th. Morgan Stanley upped their target price on Tempus AI from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America upped their target price on Tempus AI from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 25th. Guggenheim upped their target price on Tempus AI from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Finally, BTIG Research began coverage on Tempus AI in a research note on Friday, August 8th. They issued a “buy” rating and a $60.00 target price for the company.

Tempus AI Stock Up 3.1%

Shares of NASDAQ TEM opened at $73.78 on Wednesday. Tempus AI has a 12 month low of $31.36 and a 12 month high of $91.45. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of -62.00 and a beta of 4.98. The business has a 50-day moving average of $63.13 and a 200-day moving average of $58.57.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. Tempus AI had a negative return on equity of 122.86% and a negative net margin of 20.98%. The company had revenue of $314.64 million during the quarter, compared to analyst estimates of $296.84 million. During the same quarter in the previous year, the firm earned ($6.86) earnings per share. Tempus AI’s revenue was up 89.5% on a year-over-year basis. Sell-side analysts expect that Tempus AI will post -6.15 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $39,075.00. Following the completion of the sale, the director owned 26,554 shares of the company’s stock, valued at approximately $1,660,156.08. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Erik Phelps sold 51,317 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $72.56, for a total value of $3,723,561.52. Following the sale, the executive vice president directly owned 97,779 shares of the company’s stock, valued at approximately $7,094,844.24. This trade represents a 34.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 802,772 shares of company stock valued at $54,080,775. Corporate insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Tempus AI

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its holdings in shares of Tempus AI by 12.7% during the first quarter. First Horizon Advisors Inc. now owns 1,849 shares of the company’s stock valued at $89,000 after acquiring an additional 208 shares in the last quarter. 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 valued at $80,000 after acquiring an additional 278 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Tempus AI by 6.1% during the second quarter. PNC Financial Services Group Inc. now owns 5,003 shares of the company’s stock valued at $318,000 after acquiring an additional 287 shares in the last quarter. Concord Wealth Partners raised its holdings in shares of Tempus AI by 308.0% during the second quarter. Concord Wealth Partners now owns 408 shares of the company’s stock valued at $26,000 after acquiring an additional 308 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of Tempus AI by 1.0% during the second quarter. Sigma Planning Corp now owns 33,834 shares of the company’s stock valued at $2,150,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 24.22% of the company’s stock.

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.