Axon Enterprise, Inc (NASDAQ:AXON) Stock Has Average Price Target of $721.57 According to Brokerages

Axon Enterprise, Inc (NASDAQ:AXON) has been given an average rating of “Moderate Buy” by the seventeen analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $718.47.

Several brokerages have commented on AXON. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Wednesday, August 5th. Argus upped their target price on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Raymond James Financial set a $675.00 target price on Axon Enterprise in a research report on Thursday. Zacks Research upgraded Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Citigroup reissued a “market outperform” rating on shares of Axon Enterprise in a research note on Thursday, September 17th.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction dated 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 owned 296,974 shares in the company, valued at approximately $170,590,774.82. This trade represents a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. grew its position in shares of Axon Enterprise by 11,217.5% in the third quarter. TD Waterhouse Canada Inc. now owns 895,780 shares of the biotechnology company’s stock valued at $378,485,000 after purchasing an additional 887,865 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in Axon Enterprise during the third quarter worth $308,000. Cyndeo Wealth Partners LLC acquired a new stake in shares of Axon Enterprise in the 3rd quarter worth $115,415,000. Pension & Wealth Management Advisors Inc. raised its holdings in shares of Axon Enterprise by 836.4% during the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 7,454 shares of the biotechnology company’s stock worth $3,149,000 after acquiring an additional 6,658 shares during the period. Finally, Howard Capital Management LLC increased its position in Axon Enterprise by 8,465.0% during the third quarter. Howard Capital Management LLC now owns 174,983 shares of the biotechnology company’s stock worth $73,934,000 after purchasing an additional 172,940 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $390.29 on Monday. The firm’s fifty day moving average is $501.59 and its two-hundred day moving average is $474.43. The firm has a market cap of $31.71 billion, a price-to-earnings ratio of 161.95, a PEG ratio of 7.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15. Axon Enterprise has a one year low of $339.01 and a one year high of $764.02.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. 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 posted $2.12 EPS. The company’s revenue was up 35.3% on a year-over-year basis. Research analysts expect that Axon Enterprise will post 2.12 EPS for the current year.

About Axon Enterprise

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.