Craig Hallum Upgrades Axon Enterprise (NASDAQ:AXON) to Buy

Craig Hallum upgraded shares of Axon Enterprise (NASDAQ:AXON) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports. They currently have $900.00 price target on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on AXON. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the company an “overweight” rating in a research report on Friday, July 11th. Wolfe Research started coverage on shares of Axon Enterprise in a research note on Monday, July 7th. They issued an “outperform” rating on the stock. The Goldman Sachs Group increased their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. JMP Securities lifted their target price on Axon Enterprise from $725.00 to $825.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 22nd. Finally, UBS Group began coverage on Axon Enterprise in a research report on Wednesday, July 16th. They issued a “neutral” rating and a $820.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $837.69.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $870.97 on Tuesday. The company has a market cap of $68.37 billion, a price-to-earnings ratio of 215.05, a PEG ratio of 19.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.62. The firm has a 50 day simple moving average of $772.30 and a 200 day simple moving average of $663.05. Axon Enterprise has a one year low of $344.00 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm had revenue of $668.54 million for the quarter, compared to analysts’ expectations of $641.77 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s revenue was up 32.6% on a year-over-year basis. Research analysts predict that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, CAO Jennifer H. Mak sold 75 shares of Axon Enterprise stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $771.81, for a total transaction of $57,885.75. Following the completion of the transaction, the chief accounting officer owned 15,240 shares in the company, valued at approximately $11,762,384.40. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total value of $702,632.95. Following the sale, the president directly owned 268,735 shares of the company’s stock, valued at $208,643,166.65. This represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,642 shares of company stock worth $25,090,528 over the last ninety days. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Several institutional investors have recently bought and sold shares of AXON. Vanguard Group Inc. lifted its stake in Axon Enterprise by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock valued at $4,540,005,000 after acquiring an additional 185,571 shares in the last quarter. Capital World Investors raised its holdings in shares of Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock valued at $1,079,145,000 after purchasing an additional 841,772 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Axon Enterprise by 15.9% in the first quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company’s stock valued at $675,812,000 after purchasing an additional 175,890 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock valued at $487,977,000 after purchasing an additional 212,931 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Axon Enterprise by 58,725.5% during the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company’s stock worth $402,210,000 after purchasing an additional 763,431 shares during the last quarter. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Company Profile

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.