Tempus AI (NASDAQ:TEM) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Tempus AI (NASDAQ:TEM) in a report released on Monday, Marketbeat.com reports. Needham & Company LLC currently has a $75.00 price target on the stock.

A number of other equities research analysts have also commented on TEM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tempus AI in a research note on Wednesday, June 17th. Wall Street Zen lowered shares of Tempus AI from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Freedom Capital raised shares of Tempus AI to a “hold” rating in a research report on Tuesday, June 30th. Wolfe Research initiated coverage on shares of Tempus AI in a research report on Tuesday, June 2nd. They set a “peer perform” rating on the stock. Finally, Jefferies Financial Group assumed coverage on Tempus AI in a report on Monday, April 13th. They set an “underperform” rating and a $35.00 price target for the company. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Tempus AI presently has an average rating of “Hold” and a consensus price target of $68.92.

Tempus AI Price Performance

Tempus AI stock opened at $48.41 on Monday. The stock’s 50 day moving average is $51.60 and its 200 day moving average is $53.91. Tempus AI has a one year low of $41.73 and a one year high of $104.32. The firm has a market cap of $8.69 billion, a P/E ratio of -28.15 and a beta of 3.46. The company has a debt-to-equity ratio of 2.96, a current ratio of 3.31 and a quick ratio of 3.15.

Tempus AI (NASDAQ:TEM) last released its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. Tempus AI had a negative net margin of 22.20% and a negative return on equity of 53.83%. The business had revenue of $348.12 million during the quarter, compared to the consensus estimate of $345.44 million. During the same quarter in the prior year, the firm posted ($0.24) EPS. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year. As a group, research analysts expect that Tempus AI will post -1.35 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Eric P. Lefkofsky sold 166,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $46.70, for a total transaction of $7,763,875.00. Following the completion of the sale, the chief executive officer owned 8,808,533 shares of the company’s stock, valued at $411,358,491.10. This trade represents a 1.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James William Rogers sold 11,529 shares of Tempus AI stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $55.00, for a total transaction of $634,095.00. Following the completion of the sale, the chief financial officer owned 114,866 shares of the company’s stock, valued at $6,317,630. This represents a 9.12% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 616,043 shares of company stock valued at $31,748,593 over the last 90 days. 24.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tempus AI

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in shares of Tempus AI by 201.2% during the first quarter. Royal Bank of Canada now owns 25,988 shares of the company’s stock valued at $1,253,000 after purchasing an additional 17,359 shares during the period. Rhumbline Advisers acquired a new stake in shares of Tempus AI in the 1st quarter valued at about $116,000. Prudential Financial Inc. acquired a new stake in shares of Tempus AI in the 2nd quarter valued at about $276,000. Russell Investments Group Ltd. increased its position in Tempus AI by 21.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 6,527 shares of the company’s stock valued at $415,000 after buying an additional 1,146 shares in the last quarter. Finally, Invesco Ltd. increased its position in Tempus AI by 2,926.6% in the 2nd quarter. Invesco Ltd. now owns 211,621 shares of the company’s stock valued at $13,446,000 after buying an additional 204,629 shares in the last quarter. 24.22% of the stock is owned by institutional investors.

About Tempus AI

Tempus is a technology-driven healthcare company that applies artificial intelligence and machine learning to clinical and molecular data in order to advance precision medicine. Its primary focus lies in oncology, where the company offers comprehensive genomic profiling, digital pathology services and data-driven insights to inform personalized cancer care. By integrating DNA and RNA sequencing with structured clinical information, Tempus enables clinicians and researchers to identify targeted treatment options for patients based on the genetic characteristics of their tumors.

The company’s core offering centers on a scalable, cloud-based analytics platform that aggregates vast amounts of molecular and clinical data.