Brokerages Set Axon Enterprise, Inc (NASDAQ:AXON) Target Price at $762.93

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have received a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $762.9333.

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler reduced their price target on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Barclays decreased their price objective on Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Friday. Finally, Needham & Company LLC dropped their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a report on Friday, February 20th.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $415.07 on Thursday. Axon Enterprise has a 52 week low of $396.41 and a 52 week high of $885.91. The company has a market capitalization of $33.37 billion, a price-to-earnings ratio of 273.07, a PEG ratio of 9.18 and a beta of 1.46. The company has a 50-day simple moving average of $497.63 and a 200 day simple moving average of $587.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm had revenue of $796.72 million for the quarter, compared to analysts’ expectations of $755.29 million. During the same period in the prior year, the firm earned $2.08 EPS. The business’s revenue was up 38.5% on a year-over-year basis. On average, sell-side analysts predict that Axon Enterprise will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 1,500 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the transaction, the chief accounting officer owned 12,240 shares in the company, valued at $7,019,028. This represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the transaction, the chief executive officer owned 3,090,997 shares in the company, valued at approximately $1,546,240,339.28. The trade was a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,855 shares of company stock valued at $13,299,928 in the last quarter. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after acquiring an additional 1,516,099 shares in the last quarter. Edgewood Management LLC bought a new stake in shares of Axon Enterprise during the 4th quarter valued at $846,516,000. Wellington Management Group LLP grew its holdings in shares of Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after purchasing an additional 1,179,038 shares in the last quarter. Norges Bank acquired a new stake in shares of Axon Enterprise during the 4th quarter worth $515,764,000. Finally, Vanguard Group Inc. increased its position in shares of Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after purchasing an additional 376,904 shares during the period. 79.08% of the stock is currently owned by institutional investors.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.