Axon Enterprise, Inc (NASDAQ:AXON) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have received a consensus rating of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $712.75.

A number of analysts have recently issued reports on AXON shares. Morgan Stanley set a $600.00 target price on Axon Enterprise in a report on Thursday, May 7th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a report on Thursday, June 25th. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a research report on Thursday, May 7th. Weiss Ratings raised Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their price objective on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $597.04 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market cap of $48.12 billion, a PE ratio of 239.78, a price-to-earnings-growth ratio of 12.18 and a beta of 1.38. Axon Enterprise has a 52 week low of $339.01 and a 52 week high of $885.91. The firm has a 50 day simple moving average of $437.68 and a 200 day simple moving average of $482.40.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same period in the previous year, the company posted $1.47 EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, research analysts expect that Axon Enterprise will post 1.63 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Cameron Brooks sold 1,242 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the transaction, the executive owned 49,710 shares in the company, valued at approximately $24,855,000. This represents a 2.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 48,989 shares of company stock worth $24,090,083 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds have recently modified their holdings of AXON. Brighton Jones LLC purchased a new position in Axon Enterprise in the fourth quarter valued at about $480,000. NewEdge Advisors LLC raised its stake in shares of Axon Enterprise by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after buying an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Axon Enterprise during the 2nd quarter valued at about $284,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.