Axon Enterprise (NASDAQ:AXON) Price Target Raised to $750.00

Axon Enterprise (NASDAQ:AXON) had its target price raised by Needham & Company LLC from $600.00 to $750.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays reissued a “hold” rating on shares of Axon Enterprise in a research note on Monday, March 10th. Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “cautious” rating in a research report on Monday, March 10th. The Goldman Sachs Group boosted their price objective on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, January 27th. TD Cowen assumed coverage on shares of Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 target price for the company. Finally, JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $640.91.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $684.59 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. Axon Enterprise has a 1-year low of $273.52 and a 1-year high of $715.99. The business has a 50 day simple moving average of $564.50 and a two-hundred day simple moving average of $584.84. The stock has a market capitalization of $53.29 billion, a PE ratio of 176.90, a P/E/G ratio of 5.17 and a beta of 1.24.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The company had revenue of $603.63 million for the quarter, compared to analysts’ expectations of $585.67 million. During the same quarter in the previous year, the business posted $1.15 earnings per share. Axon Enterprise’s quarterly revenue was up 31.3% on a year-over-year basis. On average, research analysts predict that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeri Williams sold 307 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the completion of the sale, the director now directly owns 1,627 shares of the company’s stock, valued at $899,275.44. This represents a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the transaction, the chief executive officer now directly owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Axon Enterprise

Hedge funds have recently bought and sold shares of the stock. TCTC Holdings LLC lifted its stake in shares of Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth approximately $30,000. Bartlett & CO. Wealth Management LLC raised its stake in shares of Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in Axon Enterprise in the first quarter valued at approximately $32,000. Finally, New Wave Wealth Advisors LLC purchased a new position in Axon Enterprise in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.