Axon Enterprise (NASDAQ:AXON) Stock Gets Price Target Cut from TD Cowen

Axon Enterprise (NASDAQ:AXON) had its price target reduced by TD Cowen from $825.00 to $800.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

AXON has been the subject of a number of other research reports. Argus increased their price target on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Barclays raised their price target on Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Northcoast Research boosted their price objective on Axon Enterprise from $650.00 to $680.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Piper Sandler lowered their price objective on Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Axon Enterprise in a research note on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $688.38.

Axon Enterprise Trading Down 0.6%

Axon Enterprise stock opened at $423.17 on Monday. The firm has a 50 day moving average of $471.32 and a 200 day moving average of $483.20. The firm has a market capitalization of $34.38 billion, a price-to-earnings ratio of 175.59, a P/E/G ratio of 7.99 and a beta of 1.44. Axon Enterprise has a 12-month low of $339.01 and a 12-month high of $762.08. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping 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 company had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter last year, the business earned $2.12 EPS. The firm’s revenue was up 35.3% compared to the same quarter last year. As a group, research analysts predict that Axon Enterprise will post 2.10 earnings per share for the current year.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the transaction, the insider owned 56,264 shares of the company’s stock, valued at approximately $27,032,038.80. The trade was a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 47,397 shares of company stock worth $26,722,984 in the last quarter. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

Several large investors have recently made changes to their positions in AXON. Keel Point LLC lifted its stake in shares of Axon Enterprise by 4.4% during the 1st quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock worth $254,000 after purchasing an additional 25 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in Axon Enterprise by 4.4% in the second quarter. Bridgewater Advisors Inc. now owns 616 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 26 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Axon Enterprise by 7.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 361 shares of the biotechnology company’s stock valued at $153,000 after purchasing an additional 26 shares during the last quarter. Roman Butler Fullerton & Co. raised its holdings in Axon Enterprise by 2.4% in the first quarter. Roman Butler Fullerton & Co. now owns 1,278 shares of the biotechnology company’s stock worth $500,000 after purchasing an additional 30 shares in the last quarter. Finally, 44 Wealth Management LLC raised its holdings in Axon Enterprise by 6.0% in the first quarter. 44 Wealth Management LLC now owns 530 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 30 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 connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.