JPMorgan Chase & Co. Raises Axon Enterprise (NASDAQ:AXON) Price Target to $850.00

Axon Enterprise (NASDAQ:AXON) had its target price boosted by research analysts at JPMorgan Chase & Co. from $730.00 to $850.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.42% from the stock’s previous close.

AXON has been the topic of a number of other reports. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the company an “overweight” rating in a research report on Friday, July 11th. Barclays raised their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. UBS Group began coverage on Axon Enterprise in a report on Wednesday. They issued a “neutral” rating and a $820.00 price objective for the company. The Goldman Sachs Group raised their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Needham & Company LLC lifted their target price on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued 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 price target of $763.75.

Axon Enterprise Trading Up 1.4%

Shares of Axon Enterprise stock opened at $756.09 on Thursday. The company’s fifty day moving average price is $763.54 and its two-hundred day moving average price is $645.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. Axon Enterprise has a 52-week low of $279.02 and a 52-week high of $830.21. The firm has a market capitalization of $58.86 billion, a PE ratio of 182.63, a price-to-earnings-growth ratio of 85.86 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million for the quarter, compared to the consensus estimate of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS. On average, analysts expect that Axon Enterprise will post 5.8 EPS for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, CRO Cameron Brooks sold 3,000 shares of Axon Enterprise stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the transaction, the executive owned 19,447 shares in the company, valued at $14,405,559.72. The trade was a 13.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the transaction, the director owned 17,740 shares in the company, valued at approximately $13,482,400. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,642 shares of company stock valued at $30,500,428 over the last 90 days. 4.40% of the stock is owned by company insiders.

Institutional Trading of Axon Enterprise

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Axon Enterprise in the first quarter valued at approximately $1,110,000. Quotient Wealth Partners LLC bought a new position in shares of Axon Enterprise in the 1st quarter worth $438,000. CX Institutional bought a new position in shares of Axon Enterprise in the 1st quarter worth $115,000. GAMMA Investing LLC raised its position in Axon Enterprise by 11.8% in the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock valued at $765,000 after buying an additional 154 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in Axon Enterprise by 5.1% in the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company’s stock valued at $494,000 after buying an additional 46 shares during the last quarter. 79.08% of the stock is currently 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.