Needham & Company LLC Reiterates “Buy” Rating for Axon Enterprise (NASDAQ:AXON)

Needham & Company LLC reaffirmed their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $400.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts have also commented on the company. TheStreet lowered Axon Enterprise from a b rating to a c+ rating in a research report on Tuesday, February 27th. Argus initiated coverage on Axon Enterprise in a research report on Wednesday, March 13th. They issued a buy rating and a $380.00 price target on the stock. Robert W. Baird upped their price target on Axon Enterprise from $260.00 to $300.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Morgan Stanley upped their price target on Axon Enterprise from $250.00 to $285.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Finally, StockNews.com lowered Axon Enterprise from a buy rating to a hold rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $314.91.

Axon Enterprise Price Performance

Shares of AXON opened at $308.23 on Wednesday. Axon Enterprise has a 12-month low of $175.37 and a 12-month high of $329.87. The business has a 50-day simple moving average of $304.22 and a two-hundred day simple moving average of $261.92. The company has a quick ratio of 2.66, a current ratio of 3.00 and a debt-to-equity ratio of 0.42. The stock has a market cap of $23.26 billion, a PE ratio of 134.01 and a beta of 0.93.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.29. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The business had revenue of $432.14 million during the quarter, compared to analysts’ expectations of $418.97 million. Analysts anticipate that Axon Enterprise will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently made changes to their positions in the business. Westfield Capital Management Co. LP boosted its holdings in Axon Enterprise by 184.3% in the third quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock worth $138,535,000 after acquiring an additional 451,350 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Axon Enterprise by 18.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 104,587 shares of the biotechnology company’s stock worth $27,019,000 after acquiring an additional 16,230 shares in the last quarter. BKM Wealth Management LLC bought a new position in Axon Enterprise in the fourth quarter worth approximately $32,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Axon Enterprise by 0.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 147,345 shares of the biotechnology company’s stock worth $29,320,000 after acquiring an additional 495 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Axon Enterprise in the fourth quarter worth approximately $39,907,000. 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.