Brokerages Set Axon Enterprise, Inc (NASDAQ:AXON) Target Price at $725.25

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $725.25.

A number of equities analysts have recently issued reports on the company. Barclays cut their target price on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Piper Sandler lifted their price target on Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Needham & Company LLC increased their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. raised their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a report on Thursday, May 7th.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $527.76 on Wednesday. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 211.95, a price-to-earnings-growth ratio of 10.77 and a beta of 1.39. Axon Enterprise has a 52-week low of $339.01 and a 52-week high of $885.91. The company’s 50-day simple moving average is $497.09 and its 200-day simple moving average is $475.52. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. During the same quarter last year, the firm earned $1.47 earnings per share. The firm’s revenue was up 33.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Axon Enterprise will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares of the company’s stock, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 58,989 shares of company stock worth $30,527,983. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $28,000. Sound Income Strategies LLC raised its holdings in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC acquired a new position in Axon Enterprise during the fourth quarter worth $30,000. AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise during the fourth quarter worth $34,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Axon Enterprise during the fourth quarter worth $35,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.