Tempus AI (NASDAQ:TEM) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They presently have a $75.00 price target on the stock. Needham & Company LLC‘s target price indicates a potential downside of 1.83% from the stock’s current price.

A number of other brokerages have also weighed in on TEM. Freedom Capital raised Tempus AI to a “hold” rating in a report on Tuesday, June 30th. UBS Group started coverage on Tempus AI in a report on Wednesday, September 9th. They set a “neutral” rating and a $70.00 price objective on the stock. Roth Capital started coverage on Tempus AI in a report on Tuesday, September 8th. They set a “neutral” rating and a $67.00 price objective on the stock. Canaccord Genuity Group upped their price objective on Tempus AI from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Finally, Cantor Fitzgerald started coverage on Tempus AI in a report on Wednesday, September 2nd. They set an “overweight” rating and a $80.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $72.47.

Tempus AI Price Performance

Shares of NASDAQ:TEM traded up $4.25 during trading on Friday, reaching $76.40. The company had a trading volume of 609,567 shares, compared to its average volume of 6,144,699. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of -52.77 and a beta of 3.54. The stock’s fifty day moving average price is $69.70 and its 200 day moving average price is $56.95. Tempus AI has a fifty-two week low of $40.77 and a fifty-two week high of $91.83.

Tempus AI (NASDAQ:TEM) last released its earnings results on Thursday, July 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $382.49 million during the quarter, compared to analyst estimates of $379.69 million. During the same period in the previous year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, equities analysts anticipate that Tempus AI will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Andrew Polovin sold 2,951 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $75.00, for a total transaction of $221,325.00. Following the transaction, the executive vice president directly owned 135,189 shares in the company, valued at approximately $10,139,175. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nadja West sold 3,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $69.00, for a total value of $207,000.00. Following the transaction, the director owned 31,981 shares in the company, valued at $2,206,689. This trade represents a 8.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,030,965 shares of company stock valued at $69,882,564. Insiders own 24.26% of the company’s stock.

Institutional Investors Weigh In On Tempus AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Tempus AI during the third quarter worth about $27,000. EMC Capital Management acquired a new stake in shares of Tempus AI in the second quarter valued at about $29,000. Ulland Investment Advisors LLC acquired a new stake in shares of Tempus AI in the third quarter valued at about $41,000. Eastern Bank acquired a new stake in shares of Tempus AI in the third quarter valued at about $69,000. Finally, Whittier Trust Co. grew its stake in shares of Tempus AI by 190.0% in the first quarter. Whittier Trust Co. now owns 870 shares of the company’s stock valued at $41,000 after buying an additional 570 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors and hedge funds.

Tempus AI Company Profile

Tempus AI, Inc is a healthcare technology company that uses artificial intelligence and data analytics to support precision medicine. The company combines clinical, molecular and imaging data to help physicians make more informed treatment decisions and to help researchers and biopharmaceutical companies develop therapies.

Its offerings include genomic testing and analysis, such as tissue- and blood-based tests, as well as software tools designed to assist with clinical decision-making, patient matching for clinical trials and the management of healthcare data.