Axon Enterprise (NASDAQ:AXON) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $400.00 price target on the biotechnology company’s stock.

AXON has been the subject of a number of other research reports. Barclays increased their target price on shares of Axon Enterprise from $296.00 to $308.00 and gave the stock an overweight rating in a report on Thursday, February 29th. The Goldman Sachs Group increased their price objective on shares of Axon Enterprise from $297.00 to $339.00 and gave the company a buy rating in a research note on Wednesday, February 28th. Morgan Stanley boosted their target price on shares of Axon Enterprise from $285.00 to $310.00 and gave the stock an equal weight rating in a research note on Friday, April 26th. JMP Securities increased their price target on Axon Enterprise from $320.00 to $375.00 and gave the company a market outperform rating in a research note on Wednesday, May 1st. Finally, TheStreet downgraded Axon Enterprise from a b rating to a c+ rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $327.00.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $312.73 on Tuesday. Axon Enterprise has a 1 year low of $175.37 and a 1 year high of $329.87. The stock has a market capitalization of $23.60 billion, a price-to-earnings ratio of 135.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 2.66. The company’s 50 day simple moving average is $310.77 and its 200 day simple moving average is $267.13.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Monday, May 6th. The biotechnology company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.20. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The company had revenue of $460.74 million for the quarter, compared to analyst estimates of $441.57 million. During the same quarter last year, the company posted $0.51 EPS. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. As a group, research analysts predict that Axon Enterprise will post 2.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Axon Enterprise by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,930,905 shares of the biotechnology company’s stock valued at $2,048,791,000 after purchasing an additional 40,435 shares during the period. Sands Capital Management LLC increased its position in shares of Axon Enterprise by 0.6% during the fourth quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company’s stock worth $679,060,000 after buying an additional 16,347 shares during the period. Wellington Management Group LLP raised its stake in Axon Enterprise by 3.3% during the third quarter. Wellington Management Group LLP now owns 1,956,022 shares of the biotechnology company’s stock worth $389,229,000 after buying an additional 62,324 shares during the last quarter. Norges Bank acquired a new position in Axon Enterprise in the fourth quarter valued at $195,406,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Axon Enterprise by 5.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company’s stock valued at $189,025,000 after buying an additional 35,528 shares during the period. 79.08% of the stock is currently owned by institutional investors.

About Axon Enterprise

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.