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

Axon Enterprise, Inc. (NASDAQ:AXON) has been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $382.85.

A number of analysts recently issued reports on AXON shares. Northland Securities boosted their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Needham & Company LLC increased their price target on Axon Enterprise from $400.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target on the stock. Craig Hallum increased their target price on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a report on Wednesday.

Axon Enterprise Price Performance

AXON stock opened at $442.69 on Thursday. The stock has a market cap of $33.45 billion, a PE ratio of 116.81, a P/E/G ratio of 11.74 and a beta of 0.94. Axon Enterprise has a 12 month low of $199.29 and a 12 month high of $455.17. The company has a 50-day moving average price of $393.29 and a 200 day moving average price of $334.66. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. The company had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. Axon Enterprise’s revenue was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. Equities research analysts anticipate that Axon Enterprise will post 1.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total transaction of $437,980.00. Following the sale, the director now directly owns 26,259 shares of the company’s stock, valued at $11,500,916.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares of the company’s stock, valued at $1,121,052,771.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now directly owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 371,172 shares of company stock valued at $137,000,162. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Axon Enterprise by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,329 shares of the biotechnology company’s stock worth $2,502,000 after acquiring an additional 1,196 shares during the period. Allworth Financial LP boosted its position in Axon Enterprise by 7.1% in the 3rd quarter. Allworth Financial LP now owns 1,006 shares of the biotechnology company’s stock worth $402,000 after purchasing an additional 67 shares in the last quarter. Cromwell Holdings LLC grew its stake in shares of Axon Enterprise by 94.0% during the 3rd quarter. Cromwell Holdings LLC now owns 227 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 110 shares during the period. Financial Management Network Inc. purchased a new position in shares of Axon Enterprise during the 3rd quarter valued at approximately $211,000. Finally, Cullinan Associates Inc. purchased a new stake in Axon Enterprise during the third quarter worth $310,000. 79.08% of the stock is 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.