Axon Enterprise, Inc (NASDAQ:AXON) Receives $725.25 Average Target Price from Analysts

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have received an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $725.25.

AXON has been the subject of a number of research reports. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 target price on shares of Axon Enterprise in a research report on Thursday, June 25th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Morgan Stanley set a $600.00 target price on Axon Enterprise in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their target price on Axon Enterprise from $750.00 to $755.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the completion of the sale, the director directly owned 3,632 shares of the company’s stock, valued at $1,739,619.04. The trade was a 13.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 58,989 shares of company stock valued at $30,527,983 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Darwin Wealth Management LLC purchased a new stake in Axon Enterprise during the 2nd quarter valued at approximately $37,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Axon Enterprise in the 4th quarter valued at approximately $28,000. Sound Income Strategies LLC increased its holdings in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Stock Performance

Shares of AXON opened at $527.76 on Wednesday. The company has a market capitalization of $42.54 billion, a price-to-earnings ratio of 211.95, a price-to-earnings-growth ratio of 10.72 and a beta of 1.38. Axon Enterprise has a 52-week low of $339.01 and a 52-week high of $885.91. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $497.09 and a 200 day moving average price of $476.61.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.90 million. During the same quarter in the prior year, the business posted $1.47 EPS. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. Research analysts predict that Axon Enterprise will post 1.63 EPS for the current fiscal year.

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.