Axon Enterprise (NASDAQ:AXON) Rating Reiterated by Needham & Company LLC

Axon Enterprise (NASDAQ:AXON)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $400.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 28.26% from the stock’s previous close.

Several other brokerages have also issued reports on AXON. Argus began coverage on Axon Enterprise in a research report on Wednesday, March 13th. They set a “buy” rating and a $380.00 target price for the company. The Goldman Sachs Group lifted their price objective on Axon Enterprise from $297.00 to $339.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. JMP Securities increased their target price on shares of Axon Enterprise from $320.00 to $375.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.08.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $311.86 on Tuesday. The business’s 50-day moving average price is $310.82 and its 200-day moving average price is $267.44. Axon Enterprise has a 12 month low of $175.37 and a 12 month high of $329.87. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $23.53 billion, a price-to-earnings ratio of 135.59 and a beta of 0.91.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Monday, May 6th. The biotechnology company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.95 by $0.20. The business had revenue of $460.74 million for the quarter, compared to the consensus estimate of $441.57 million. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The firm’s revenue was up 34.3% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. Equities research analysts forecast that Axon Enterprise will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds and other institutional investors have recently modified their holdings of AXON. Avantax Advisory Services Inc. grew its position in Axon Enterprise by 0.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after purchasing an additional 40 shares during the period. Brookstone Capital Management grew its holdings in shares of Axon Enterprise by 5.1% during the first quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 41 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Axon Enterprise by 3.9% during the fourth quarter. HB Wealth Management LLC now owns 1,139 shares of the biotechnology company’s stock worth $294,000 after acquiring an additional 43 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Axon Enterprise by 1.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,997 shares of the biotechnology company’s stock worth $1,033,000 after acquiring an additional 43 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Axon Enterprise by 11.0% during the 4th quarter. UMB Bank n.a. now owns 444 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.