Axon Enterprise (NASDAQ:AXON) PT Raised to $310.00 at Morgan Stanley

Axon Enterprise (NASDAQ:AXON) had its price target increased by equities researchers at Morgan Stanley from $285.00 to $310.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s price target would indicate a potential upside of 0.57% from the company’s current price.

Other research analysts have also recently issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Wednesday. The Goldman Sachs Group upped their price target on Axon Enterprise from $297.00 to $339.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Robert W. Baird upped their price target on Axon Enterprise from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Barclays upped their price target on Axon Enterprise from $296.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $314.91.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $308.23 on Friday. Axon Enterprise has a 12 month low of $175.37 and a 12 month high of $329.87. The stock has a market cap of $23.26 billion, a price-to-earnings ratio of 134.01 and a beta of 0.93. The stock’s 50 day moving average price is $304.22 and its 200 day moving average price is $261.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 2.66.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.48 by $0.29. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The firm had revenue of $432.14 million for the quarter, compared to analysts’ expectations of $418.97 million. Equities research analysts anticipate that Axon Enterprise will post 2.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP grew its position in Axon Enterprise by 184.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock worth $138,535,000 after purchasing an additional 451,350 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Axon Enterprise by 18.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 104,587 shares of the biotechnology company’s stock valued at $27,019,000 after acquiring an additional 16,230 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $32,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Axon Enterprise by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 147,345 shares of the biotechnology company’s stock valued at $29,320,000 after acquiring an additional 495 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $39,907,000. 79.08% of the stock is currently owned by hedge funds and other 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.