Axon Enterprise (NASDAQ:AXON) Price Target Raised to $750.00

Axon Enterprise (NASDAQ:AXON) had its price objective lifted by investment analysts at Needham & Company LLC from $600.00 to $750.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 9.55% from the stock’s current price.

AXON has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. TD Cowen initiated coverage on Axon Enterprise in a report on Wednesday, January 8th. They issued a “buy” rating and a $700.00 price objective for the company. Barclays reaffirmed a “hold” rating on shares of Axon Enterprise in a report on Monday, March 10th. Finally, JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $640.91.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $684.59 on Thursday. Axon Enterprise has a one year low of $273.52 and a one year high of $715.99. 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 firm has a market cap of $53.29 billion, a price-to-earnings ratio of 176.90, a P/E/G ratio of 5.17 and a beta of 1.24. The stock’s fifty day moving average price is $564.50 and its two-hundred day moving average price is $583.86.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm had revenue of $603.63 million during the quarter, compared to analysts’ expectations of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS. On average, equities analysts forecast that Axon Enterprise will post 5.8 EPS for the current year.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the transaction, the chief executive officer now directly owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeri Williams sold 307 shares of the stock in a transaction dated 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 sale, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock worth $4,540,005,000 after purchasing an additional 185,571 shares during the period. Geode Capital Management LLC increased its holdings in shares of Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after buying an additional 65,097 shares during the last quarter. Capital World Investors raised its position in shares of Axon Enterprise by 86.4% during 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 buying an additional 841,772 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Axon Enterprise by 273.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock worth $659,128,000 after acquiring an additional 812,337 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Axon Enterprise by 29.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock valued at $487,977,000 after purchasing an additional 212,931 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

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.