Axon Enterprise (NASDAQ:AXON) Stock Price Up 8.9% – Time to Buy?

Axon Enterprise, Inc (NASDAQ:AXON)’s stock price shot up 8.9% during trading on Monday . The company traded as high as $505.55 and last traded at $506.3640. Approximately 188,186 shares traded hands during trading, a decline of 83% from the average daily volume of 1,084,276 shares. The stock had previously closed at $464.83.

Axon Enterprise News Summary

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Trump’s reported purchase of Axon shares ahead of the ICE procurement notice has sparked speculation that the company may benefit from a larger government order pipeline. Trump bought as much as $5 million in Axon stock before ICE sought $220 million Taser deal
• Positive Sentiment: The reported ICE request for about 17,800 Tasers, cartridges, and training services could represent a significant potential contract for Axon if finalized. Trump bought Axon stock before ICE sought $220M Taser contract
• Neutral Sentiment: The headlines have also raised scrutiny around timing and possible conflicts of interest, but there is no indication in these reports that Axon did anything wrong. Trump bought as much as $5 million in Axon stock before ICE sought $220 million Taser deal

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a report on Thursday. UBS Group cut their target price on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Morgan Stanley set a $600.00 price target on Axon Enterprise in a research note on Thursday, May 7th. Finally, Barclays dropped their price objective on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $712.75.

Axon Enterprise Price Performance

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 firm’s fifty day moving average price is $420.65 and its two-hundred day moving average price is $481.58. The stock has a market capitalization of $40.89 billion, a PE ratio of 203.91, a PEG ratio of 9.48 and a beta of 1.45.

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, topping 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 company had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same quarter last year, the company posted $1.47 earnings per share. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. On average, equities analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insider Activity

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider directly owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the completion of the sale, the insider directly owned 52,813 shares of the company’s stock, valued at $21,125,200. The trade was a 3.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,989 shares of company stock worth $19,090,083. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new position in shares of Axon Enterprise in the 4th quarter worth approximately $28,000. Sound Income Strategies LLC grew its position in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 44 shares during the period. Camelot Portfolios LLC purchased a new stake in Axon Enterprise during the fourth quarter valued at approximately $30,000. AlphaCentric Advisors LLC purchased a new stake in Axon Enterprise during the fourth quarter valued at approximately $34,000. Finally, Lodestone Wealth Management LLC bought a new position in Axon Enterprise in the fourth quarter worth approximately $35,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.