Axon Enterprise, Inc (NASDAQ:AXON) Receives Average Recommendation of “Moderate Buy” from Brokerages

Axon Enterprise, Inc (NASDAQ:AXON) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $730.9231.

Several research analysts have weighed in on the stock. Morgan Stanley upped their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research note on Thursday, August 6th. Piper Sandler raised their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Barclays lifted 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.

Axon Enterprise Stock Up 0.6%

Shares of NASDAQ:AXON opened at $611.20 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $557.20 and its 200-day simple moving average is $482.16. Axon Enterprise has a fifty-two week low of $339.01 and a fifty-two week high of $794.29. The company has a market cap of $49.65 billion, a price-to-earnings ratio of 253.61, a PEG ratio of 9.86 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. As a group, equities research analysts predict that Axon Enterprise will post 2.04 earnings per share for the current year.

Insider Activity

In other news, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total value of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares of the company’s stock, valued at $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction dated 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 transaction, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 76,594 shares of company stock valued at $41,236,386 in the last 90 days. 4.20% of the stock is owned by corporate insiders.

Institutional Trading of Axon Enterprise

Several large investors have recently bought and sold shares of AXON. California State Teachers Retirement System grew its holdings in Axon Enterprise by 55,955.7% during the 2nd quarter. California State Teachers Retirement System now owns 64,781,849 shares of the biotechnology company’s stock valued at $36,317,352,000 after purchasing an additional 64,666,282 shares in the last quarter. Vanguard Group Inc. raised its stake in Axon Enterprise by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock worth $5,319,928,000 after acquiring an additional 53,060 shares during the period. BlackRock Inc. raised its stake in Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after acquiring an additional 345,365 shares during the period. Geode Capital Management LLC lifted its holdings in Axon Enterprise by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock worth $1,265,657,000 after acquiring an additional 35,544 shares during the last quarter. Finally, Sands Capital Management LLC lifted its holdings in shares of Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after purchasing an additional 167,095 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Company Profile

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.