Axon Enterprise (NASDAQ:AXON) Price Target Cut to $610.00 by Analysts at JPMorgan Chase & Co.

Axon Enterprise (NASDAQ:AXON) had its target price decreased by JPMorgan Chase & Co. from $755.00 to $610.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

A number of other research firms also recently issued reports on AXON. Northcoast Research increased their target price on shares of Axon Enterprise from $650.00 to $680.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada lowered their price target on shares of Axon Enterprise from $735.00 to $615.00 and set an “outperform” rating on the stock in a report on Friday. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating and set a $390.00 price target on the stock. in a research note on Friday. The Goldman Sachs Group cut their price objective on Axon Enterprise from $715.00 to $675.00 and set a “buy” rating for the company in a report on Monday, September 21st. Finally, UBS Group lifted their price objective on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $622.82.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $313.00 on Friday. The stock has a market cap of $25.43 billion, a PE ratio of 100.32, a price-to-earnings-growth ratio of 5.95 and a beta of 1.48. Axon Enterprise has a fifty-two week low of $307.00 and a fifty-two week high of $665.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.00 and a quick ratio of 2.60. The stock’s 50-day moving average is $441.53 and its two-hundred day moving average is $475.20.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). The company had revenue of $908.55 million during the quarter, compared to analysts’ expectations of $934.33 million. Axon Enterprise had a return on equity of 3.87% and a net margin of 7.56%. Axon Enterprise’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. As a group, equities research analysts forecast that Axon Enterprise will post 2.10 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the transaction, the insider directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the sale, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. 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 sold a total of 37,397 shares of company stock valued at $21,234,034 over the last 90 days. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently modified their holdings of AXON. M & L Capital Management Ltd acquired a new position in Axon Enterprise in the third quarter worth $30,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Axon Enterprise during the second quarter worth approximately $31,000. Wealth Enhancement Trust Services Inc. acquired a new position in shares of Axon Enterprise in the 3rd quarter valued at $33,000. Putney Financial Group LLC bought a new position in Axon Enterprise during the third quarter worth about $36,000. Finally, Washington Trust Advisors Inc. boosted its stake in Axon Enterprise by 1,300.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals.

The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

Founded in 1993 as TASER International, the company adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into connected devices and software.