Axon Enterprise, Inc (NASDAQ:AXON) Receives Average Rating of “Moderate Buy” from Analysts

Axon Enterprise, Inc (NASDAQ:AXON) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $837.6923.

AXON has been the topic of several analyst reports. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a report on Tuesday, August 5th. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an “overweight” rating in a report on Friday, July 11th. The Goldman Sachs Group increased their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Barclays increased their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 9th.

Axon Enterprise Stock Down 6.1%

AXON opened at $768.57 on Wednesday. The firm’s 50-day simple moving average is $775.67 and its 200-day simple moving average is $667.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise has a twelve month low of $346.71 and a twelve month high of $885.91. The firm has a market cap of $60.33 billion, a price-to-earnings ratio of 189.77, a PEG ratio of 30.05 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. Equities research analysts anticipate that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CRO Cameron Brooks sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were 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 of the company’s stock, valued at approximately $14,405,559.72. This trade represents a 13.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Joshua Isner sold 9,905 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the completion of the transaction, the president directly owned 298,809 shares in the company, valued at $220,530,006.27. This trade represents a 3.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,185 shares of company stock worth $24,126,378. 5.70% of the stock is currently owned by company insiders.

Institutional Trading of Axon Enterprise

A number of hedge funds have recently modified their holdings of AXON. Brighton Jones LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $480,000. Scotia Capital Inc. acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $281,000. Kennedy Capital Management LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $212,000. Townsquare Capital LLC raised its position in shares of Axon Enterprise by 40.0% in the 4th quarter. Townsquare Capital LLC now owns 913 shares of the biotechnology company’s stock valued at $542,000 after acquiring an additional 261 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $452,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.