Axon Enterprise (NASDAQ:AXON) Raised to “Buy” at Northcoast Research

Axon Enterprise (NASDAQ:AXON) was upgraded by stock analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $742.00 price target on the biotechnology company’s stock. Northcoast Research’s target price suggests a potential upside of 25.52% from the stock’s previous close.

A number of other research firms also recently issued reports on AXON. Barclays decreased their price objective on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Needham & Company LLC restated a “buy” rating and set a $870.00 price target on shares of Axon Enterprise in a research note on Wednesday, September 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $825.00 price target on shares of Axon Enterprise in a report on Monday, September 29th. Morgan Stanley reduced their price objective on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, Royal Bank Of Canada initiated coverage on Axon Enterprise in a research report on Monday, November 17th. They set an “outperform” rating and a $860.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $798.67.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $591.16 on Tuesday. The business’s fifty day simple moving average is $582.72 and its 200 day simple moving average is $691.94. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57. Axon Enterprise has a 12 month low of $469.24 and a 12 month high of $885.91. The firm has a market capitalization of $46.65 billion, a P/E ratio of 187.08, a price-to-earnings-growth ratio of 17.74 and a beta of 1.41.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The business had revenue of $710.64 million during the quarter, compared to the consensus estimate of $704.83 million. During the same quarter last year, the company earned $1.45 EPS. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, analysts anticipate that Axon Enterprise will post 5.8 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other news, Director Jeri Williams sold 100 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $550.63, for a total value of $55,063.00. Following the sale, the director directly owned 1,316 shares of the company’s stock, valued at approximately $724,629.08. This represents a 7.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Joshua Isner sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the transaction, the president directly owned 249,502 shares of the company’s stock, valued at approximately $137,874,805.20. This represents a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,540 shares of company stock worth $28,494,638 in the last three months. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Stone House Investment Management LLC bought a new position in shares of Axon Enterprise in the third quarter worth $29,000. New Millennium Group LLC purchased a new position in Axon Enterprise during the third quarter worth about $29,000. Flaharty Asset Management LLC bought a new position in Axon Enterprise in the 1st quarter worth about $33,000. Hemington Wealth Management raised its holdings in shares of Axon Enterprise by 70.8% in the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 17 shares in the last quarter. Finally, Whipplewood Advisors LLC raised its holdings in shares of Axon Enterprise by 192.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 27 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Company Profile

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.