Needham & Company LLC Reaffirms “Buy” Rating for Tempus AI (NASDAQ:TEM)

Tempus AI (NASDAQ:TEM)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $75.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 48.60% from the company’s previous close.

A number of other research firms have also recently commented on TEM. Robert W. Baird initiated coverage on shares of Tempus AI in a research report on Tuesday, February 17th. They set an “outperform” rating and a $59.00 target price for the company. Guggenheim decreased their target price on shares of Tempus AI from $95.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Mizuho initiated coverage on shares of Tempus AI in a research report on Thursday, February 19th. They set an “outperform” rating and a $100.00 target price for the company. HC Wainwright decreased their target price on shares of Tempus AI from $95.00 to $64.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Morgan Stanley decreased their target price on shares of Tempus AI from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tempus AI has an average rating of “Moderate Buy” and an average target price of $68.64.

Tempus AI Price Performance

NASDAQ TEM opened at $50.47 on Monday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 3.15 and a current ratio of 3.31. The firm’s 50 day moving average price is $48.73 and its 200-day moving average price is $58.10. Tempus AI has a 52-week low of $41.73 and a 52-week high of $104.32. The company has a market cap of $9.06 billion, a PE ratio of -29.34 and a beta of 3.64.

Tempus AI (NASDAQ:TEM) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) 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 firm had revenue of $348.12 million for the quarter, compared to the consensus estimate of $345.44 million. During the same period last year, the firm earned ($0.24) earnings per share. The company’s quarterly revenue was up 36.1% on a year-over-year basis. Sell-side analysts forecast that Tempus AI will post -1.35 EPS for the current fiscal year.

Insider Activity at Tempus AI

In related news, CAO Ryan M. Bartolucci sold 4,116 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total transaction of $181,392.12. Following the sale, the chief accounting officer owned 74,041 shares in the company, valued at approximately $3,262,986.87. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James William Rogers sold 10,853 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $44.07, for a total transaction of $478,291.71. Following the sale, the chief financial officer owned 126,395 shares in the company, valued at approximately $5,570,227.65. This represents a 7.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 558,307 shares of company stock valued at $26,599,589 in the last quarter. 24.26% of the stock is currently owned by insiders.

Institutional Trading of Tempus AI

Several institutional investors have recently modified their holdings of TEM. Royal Bank of Canada grew its position in shares of Tempus AI by 201.2% in 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 first quarter valued at about $116,000. Prudential Financial Inc. acquired a new stake in shares of Tempus AI in the second quarter valued at about $276,000. Russell Investments Group Ltd. grew its position in shares of Tempus AI by 21.3% in the second quarter. Russell Investments Group Ltd. now owns 6,527 shares of the company’s stock valued at $415,000 after purchasing an additional 1,146 shares during the period. Finally, Invesco Ltd. grew its position in shares of Tempus AI by 2,926.6% in the second quarter. Invesco Ltd. now owns 211,621 shares of the company’s stock valued at $13,446,000 after purchasing an additional 204,629 shares during the period. Institutional investors and hedge funds own 24.22% of the company’s stock.

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.