Axon Enterprise (NASDAQ:AXON) Upgraded at Zacks Research

Zacks Research upgraded shares of Axon Enterprise (NASDAQ:AXON) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks reports.

Several other research firms also recently issued reports on AXON. Barclays raised their price target on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Morgan Stanley raised their target price on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $715.00 target price on shares of Axon Enterprise in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $721.57.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $406.00 on Monday. The stock’s 50-day moving average is $522.70 and its 200-day moving average is $477.18. Axon Enterprise has a 1-year low of $339.01 and a 1-year high of $764.02. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The stock has a market cap of $32.98 billion, a P/E ratio of 168.47, a price-to-earnings-growth ratio of 7.88 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter last year, the business earned $2.12 EPS. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. Equities research analysts anticipate that Axon Enterprise will post 2.12 earnings per share for the current year.

Insider Activity

In other news, President Joshua Isner sold 16,775 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the completion of the sale, the president directly owned 296,974 shares in the company, valued at $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider owned 97,761 shares of the company’s stock, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 47,397 shares of company stock valued at $26,722,984. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Axon Enterprise

A number of large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its holdings in shares of Axon Enterprise by 53.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after acquiring an additional 4,002 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Axon Enterprise by 122,993.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company’s stock worth $195,036,000 after purchasing an additional 461,226 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in Axon Enterprise in the 2nd quarter valued at $3,854,000. Arrowstreet Capital Limited Partnership acquired a new stake in Axon Enterprise in the 1st quarter valued at $15,067,000. Finally, Brown Lisle Cummings Inc. grew its position in Axon Enterprise by 97,231.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company’s stock valued at $19,098,000 after purchasing an additional 34,031 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.