Tempus AI, Inc. is set to announce its second-quarter earnings results on Friday, August 8, before the market opens. Analysts project that the Chicago-based company will report a loss of 25 cents per share, a significant improvement from a loss of 63 cents per share during the same quarter last year. Additionally, revenue is expected to be approximately $297.76 million, compared to $165.97 million a year prior, reflecting a strong year-over-year growth.
Recent developments for Tempus AI include the receipt of 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its ejection fraction software, a stride that has likely bolstered investor confidence. Following this news, Tempus AI shares increased by 5.8%, ending the previous trading session at $58.74.
Several analysts have weighed in on Tempus AI’s stock, providing a variety of ratings and price targets. Piper Sandler’s David Westenberg maintains a Neutral stance but has raised the price target from $55 to $70. Needham’s Ryan MacDonald holds a Buy rating with a price target of $70, while BTIG’s Mark Massaro has initiated coverage with a Buy recommendation and a price target of $60.
In contrast, JP Morgan’s Rachel Vatnsdal downgraded the stock from Overweight to Neutral, adjusting the price target up to $55. Meanwhile, TD Cowen analyst Dan Brennan reinstated a Buy rating with an optimistic price target of $74.
With strong projected revenue growth and positive movements among analysts, Tempus AI is positioned to show considerable improvement in its forthcoming earnings report, indicating a potentially bright future for the company.
Overall, the accumulation of positive ratings from various analysts suggests that there is a sense of cautious optimism surrounding Tempus AI’s performance in the upcoming quarter.