Axon Enterprise (NASDAQ:AXON) Price Target Raised to $735.00

Axon Enterprise (NASDAQ:AXON) had its target price boosted by Barclays from $726.00 to $735.00 in a research note issued to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the company. Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “cautious” rating in a report on Monday, March 10th. JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. The Goldman Sachs Group boosted their price target on Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Northcoast Research downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Finally, Needham & Company LLC upped their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $640.91.

Axon Enterprise Trading Down 0.3%

NASDAQ:AXON opened at $684.59 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The company’s 50-day simple moving average is $564.50 and its 200 day simple moving average is $585.83. Axon Enterprise has a one year low of $273.52 and a one year high of $715.99. The firm has a market capitalization of $53.29 billion, a P/E ratio of 176.90, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 15.37% and a return on equity of 7.50%. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 earnings per share. As a group, analysts forecast that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeri Williams sold 307 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares of the company’s stock, valued at $899,275.44. The trade was a 15.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Large investors have recently bought and sold shares of the stock. Capital World Investors increased its holdings in shares of Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock valued at $1,079,145,000 after acquiring an additional 841,772 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Axon Enterprise by 273.8% in the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock valued at $659,128,000 after buying an additional 812,337 shares during the last quarter. Norges Bank acquired a new stake in shares of Axon Enterprise during the fourth quarter worth about $482,081,000. GQG Partners LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth about $478,349,000. Finally, GAMMA Investing LLC increased its position in Axon Enterprise by 58,725.5% in the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company’s stock valued at $402,210,000 after acquiring an additional 763,431 shares during the period. Institutional investors and hedge funds 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.