Piper Sandler Issues Positive Forecast for Tempus AI (NASDAQ:TEM) Stock Price

Tempus AI (NASDAQ:TEM) had its price objective increased by Piper Sandler from $55.00 to $70.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price target on shares of Tempus AI in a research note on Wednesday, May 7th. Guggenheim restated a “buy” rating on shares of Tempus AI in a research report on Tuesday, February 25th. BTIG Research assumed coverage on shares of Tempus AI in a research note on Monday, April 21st. They issued a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. cut Tempus AI from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $55.00 in a report on Tuesday, February 25th. Finally, Wolfe Research cut Tempus AI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.75.

Tempus AI Trading Down 3.4%

Shares of Tempus AI stock opened at $62.60 on Thursday. Tempus AI has a 1 year low of $22.89 and a 1 year high of $91.45. 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 stock has a market cap of $10.78 billion and a PE ratio of -8.03. The firm has a fifty day moving average price of $49.65 and a 200 day moving average price of $51.53.

Tempus AI (NASDAQ:TEM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. The company had revenue of $255.74 million during the quarter, compared to analyst estimates of $248.13 million. Tempus AI’s revenue was up 75.4% on a year-over-year basis. Equities research analysts predict that Tempus AI will post -6.15 earnings per share for the current year.

Insider Buying and Selling

In other Tempus AI news, CAO Ryan M. Bartolucci sold 818 shares of Tempus AI stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $81.87, for a total transaction of $66,969.66. Following the completion of the sale, the chief accounting officer now directly owns 46,182 shares of the company’s stock, valued at $3,780,920.34. The trade was a 1.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric P. Lefkofsky sold 84,640 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $80.87, for a total value of $6,844,836.80. Following the transaction, the chief executive officer now directly owns 4,964,820 shares of the company’s stock, valued at approximately $401,504,993.40. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,065,231 shares of company stock valued at $237,796,095 in the last ninety days. Company insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On Tempus AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEM. Vanguard Group Inc. grew its position in shares of Tempus AI by 6,247.5% during the first quarter. Vanguard Group Inc. now owns 5,995,117 shares of the company’s stock worth $289,204,000 after acquiring an additional 5,900,668 shares during the last quarter. ARK Investment Management LLC increased its stake in Tempus AI by 132.1% in the fourth quarter. ARK Investment Management LLC now owns 5,519,644 shares of the company’s stock valued at $186,343,000 after purchasing an additional 3,141,487 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Tempus AI by 166.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,239,093 shares of the company’s stock valued at $109,352,000 after buying an additional 2,021,394 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of Tempus AI by 166.0% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,239,093 shares of the company’s stock worth $109,352,000 after buying an additional 2,021,394 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Tempus AI by 240.5% during the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after buying an additional 1,950,862 shares during the last quarter. 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.