Tempus AI Inc. (NASDAQ:TEM) on Monday posted upbeat results for the third quarter.
The company reported third-quarter adjusted earnings of 7 cents per share, swinging from a loss of 8 cents, beating the consensus per-share loss of 11 cents. Revenues jumped 23% from the prior-year quarter to $411.54 million, beating the consensus of $409.35 million.
“Q3 was another record quarter, as we delivered $411.5 million of revenue, led by accelerating unit growth of 32% in our oncology business and increasing momentum of 33% revenue growth in Data & Applications,” said Eric Lefkofsky, founder and CEO of Tempus. “These results reinforce the durability of our model as our best-in-class diagnostic platform enhances our data and AI offerings, distinguishes our business from our many competitors, and helps drive our performance quarter after quarter.”
Tempus AI shares slipped 0.5% to $78.10 in pre-market trading.
These analysts made changes to their price targets on Tempus AI following earnings announcement.
- BTIG analyst Mark Massaro maintained the stock with a Buy and raised the price target from $80 to $100.
- Jefferies analyst Tycho Peterson upgraded the stock from Underperform to Hold and raised the price target from $35 to $70.
- Cantor Fitzgerald analyst Sarah James maintained the stock with an Overweight rating and raised the price target from $80 to $92.
- Baird analyst Catherine Schulte maintained the stock with an Outperform rating and boosted the price target from $85 to $92.
Considering buying TEM stock? Here’s what analysts think:
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