Needham & Company LLC Reaffirms Buy Rating for Axon Enterprise (NASDAQ:AXON)

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

A number of other research firms also recently commented on AXON. JMP Securities increased their price objective on Axon Enterprise from $250.00 to $285.00 and gave the company a market outperform rating in a report on Tuesday, February 6th. The Goldman Sachs Group increased their price objective on Axon Enterprise from $297.00 to $339.00 and gave the company a buy rating in a report on Wednesday, February 28th. Argus began coverage on Axon Enterprise in a report on Wednesday, March 13th. They issued a buy rating and a $380.00 price objective on the stock. Robert W. Baird increased their price objective on Axon Enterprise from $260.00 to $300.00 and gave the company an outperform rating in a report on Thursday, February 22nd. Finally, Morgan Stanley increased their price objective on Axon Enterprise from $250.00 to $285.00 and gave the company an equal weight rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $314.91.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $308.23 on Wednesday. The stock has a fifty day simple moving average of $303.45 and a 200-day simple moving average of $260.90. Axon Enterprise has a twelve month low of $175.37 and a twelve 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 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 posted its earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.29. The firm had revenue of $432.14 million for the quarter, compared to analyst estimates of $418.97 million. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. Equities analysts anticipate that Axon Enterprise will post 2.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AXON. Norges Bank purchased a new position in Axon Enterprise during the 4th quarter worth approximately $195,406,000. Sands Capital Management LLC grew its stake in Axon Enterprise by 31.1% during the 3rd quarter. Sands Capital Management LLC now owns 2,612,305 shares of the biotechnology company’s stock worth $519,823,000 after buying an additional 619,179 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Axon Enterprise by 184.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock worth $138,535,000 after buying an additional 451,350 shares during the last quarter. Polar Capital Holdings Plc grew its stake in Axon Enterprise by 292.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 265,464 shares of the biotechnology company’s stock worth $52,825,000 after buying an additional 197,746 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Axon Enterprise by 28.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 726,400 shares of the biotechnology company’s stock valued at $144,546,000 after purchasing an additional 160,359 shares during the last quarter. Hedge funds and other 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.