Axon Enterprise (NASDAQ:AXON) Price Target Raised to $750.00 at Needham & Company LLC

Axon Enterprise (NASDAQ:AXON) had its price target lifted by Needham & Company LLC from $600.00 to $750.00 in a research report sent to investors on Monday, MarketBeat reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley set a $600.00 target price on Axon Enterprise in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Citizens Jmp reissued a “market outperform” rating and issued a $700.00 target price on shares of Axon Enterprise in a research 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. Finally, JPMorgan Chase & Co. increased their price target on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus target price of $722.12.

Axon Enterprise Trading Up 5.0%

NASDAQ AXON opened at $653.57 on Monday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $442.27 and a 200 day simple moving average of $482.38. Axon Enterprise has a 12 month low of $339.01 and a 12 month high of $885.91. The firm has a market capitalization of $52.68 billion, a P/E ratio of 259.72, a PEG ratio of 12.18 and a beta of 1.38.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.47 EPS. On average, analysts predict that Axon Enterprise will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the sale, the executive directly owned 49,710 shares of the company’s stock, valued at approximately $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares of the company’s stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 48,989 shares of company stock worth $24,090,083. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in Axon Enterprise during the second quarter worth about $37,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise during the 4th quarter valued at about $28,000. Sound Income Strategies LLC grew its holdings in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth about $30,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Axon Enterprise in the fourth quarter worth approximately $34,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

About Axon Enterprise

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.