Piper Sandler Forecasts Strong Price Appreciation for Tempus AI (NASDAQ:TEM) Stock

Tempus AI (NASDAQ:TEM) had its price target upped by Piper Sandler from $55.00 to $70.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other analysts have also recently commented on the company. TD Cowen reiterated a “buy” rating and set a $74.00 price objective (up previously from $58.00) on shares of Tempus AI in a research report on Wednesday, February 5th. Guggenheim reiterated a “buy” rating on shares of Tempus AI in a report on Tuesday, February 25th. Morgan Stanley upped their price objective on shares of Tempus AI from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. BTIG Research started coverage on shares of Tempus AI in a research report on Monday, April 21st. They set a “buy” rating and a $60.00 target price on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Tempus AI in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.75.

Tempus AI Stock Performance

Shares of TEM opened at $62.60 on Thursday. The company has a 50-day moving average of $49.65 and a two-hundred day moving average of $51.53. The stock has a market cap of $10.78 billion and a P/E ratio of -8.03. Tempus AI has a 12-month low of $22.89 and a 12-month high of $91.45. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 8.17.

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

Insider Activity

In other news, Director Wayne A.I. Frederick sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $45.54, for a total transaction of $136,620.00. Following the completion of the transaction, the director now directly owns 26,514 shares of the company’s stock, valued at approximately $1,207,447.56. This represents a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $52.36, for a total value of $1,047,200.00. Following the sale, the chief operating officer now owns 884,460 shares in the company, valued at $46,310,325.60. The trade was a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,065,231 shares of company stock worth $237,796,095. 27.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEM. ARK Investment Management LLC lifted its stake in Tempus AI by 35.9% in the first quarter. ARK Investment Management LLC now owns 7,501,399 shares of the company’s stock valued at $361,867,000 after buying an additional 1,981,755 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Tempus AI by 6,247.5% in the 1st 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 period. Nikko Asset Management Americas Inc. lifted its position in Tempus AI by 31.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company’s stock valued at $205,401,000 after purchasing an additional 1,021,460 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Tempus AI by 31.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company’s stock valued at $205,284,000 after purchasing an additional 1,016,384 shares during the period. Finally, Franklin Resources Inc. grew its position in Tempus AI by 240.5% in the 4th quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company’s stock worth $93,251,000 after purchasing an additional 1,950,862 shares during the last quarter. Institutional investors and hedge funds 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.