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

Needham & Company LLC restated their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $400.00 price objective on the biotechnology company’s stock.

A number of other brokerages also recently commented on AXON. Morgan Stanley raised their price objective on shares of Axon Enterprise from $250.00 to $285.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Robert W. Baird raised their price objective on shares of Axon Enterprise from $260.00 to $300.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. TheStreet downgraded shares of Axon Enterprise from a b rating to a c+ rating in a research report on Tuesday, February 27th. StockNews.com downgraded shares of Axon Enterprise from a buy rating to a hold rating in a research report on Thursday, March 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $312.64.

Axon Enterprise Price Performance

Shares of AXON opened at $302.41 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00. The company has a market capitalization of $22.82 billion, a price-to-earnings ratio of 131.48 and a beta of 0.93. Axon Enterprise has a fifty-two week low of $175.37 and a fifty-two week high of $329.87. The firm has a 50-day simple moving average of $302.15 and a 200-day simple moving average of $260.29.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.29. The firm had revenue of $432.14 million during the quarter, compared to the consensus estimate of $418.97 million. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. On average, equities research analysts anticipate that Axon Enterprise will post 2.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Blue Bell Private Wealth Management LLC purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $41,000. Simplicity Wealth LLC purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $492,000. Spire Wealth Management increased its stake in shares of Axon Enterprise by 7.0% during the 1st quarter. Spire Wealth Management now owns 3,717 shares of the biotechnology company’s stock worth $1,163,000 after purchasing an additional 242 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Axon Enterprise by 275.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 68,567 shares of the biotechnology company’s stock worth $21,453,000 after acquiring an additional 50,286 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Axon Enterprise by 19.8% in the 1st quarter. Venturi Wealth Management LLC now owns 612 shares of the biotechnology company’s stock worth $191,000 after acquiring an additional 101 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.