Axon Enterprise’s (AXON) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research note released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $870.00 price objective on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. JMP Securities boosted their target price on Axon Enterprise from $725.00 to $825.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 22nd. Wolfe Research initiated coverage on shares of Axon Enterprise in a report on Monday, July 7th. They issued an “outperform” rating for the company. UBS Group reaffirmed a “neutral” rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Finally, Craig Hallum upgraded shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price objective for the company in a report on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $841.64.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $698.02 on Wednesday. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 172.35, a price-to-earnings-growth ratio of 28.54 and a beta of 1.40. The company has a 50-day moving average price of $760.22 and a 200-day moving average price of $698.97. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise has a 12 month low of $388.37 and a 12 month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million for the quarter, compared to analysts’ expectations of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.Axon Enterprise’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Axon Enterprise will post 5.8 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Jennifer H. Mak sold 77 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $760.00, for a total value of $58,520.00. Following the sale, the chief accounting officer directly owned 15,003 shares of the company’s stock, valued at $11,402,280. The trade was a 0.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Joshua Isner sold 15,919 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the sale, the president owned 238,379 shares in the company, valued at $177,892,712.54. The trade was a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,932 shares of company stock valued at $34,408,816. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds have recently added to or reduced their stakes in AXON. Vestor Capital LLC raised its holdings in Axon Enterprise by 438,636.3% in the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock worth $690,170,000 after acquiring an additional 833,409 shares during the last quarter. Norges Bank purchased a new position in shares of Axon Enterprise in the second quarter worth $637,806,000. GAMMA Investing LLC lifted its holdings in shares of Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company’s stock valued at $402,210,000 after purchasing an additional 763,431 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock valued at $322,961,000 after buying an additional 611,418 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Axon Enterprise in the 1st quarter worth about $264,796,000. 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.