JMP Securities Reaffirms Market Outperform Rating for Axon Enterprise (NASDAQ:AXON)

JMP Securities reissued their market outperform rating on shares of Axon Enterprise (NASDAQ:AXON) in a research note published on Wednesday, Benzinga reports. They currently have a $375.00 price objective on the biotechnology company’s stock.

AXON has been the topic of several other reports. JPMorgan Chase & Co. increased their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Craig Hallum lifted their price target on Axon Enterprise from $370.00 to $376.00 and gave the company a buy rating in a research report on Wednesday. Robert W. Baird raised their target price on shares of Axon Enterprise from $355.00 to $360.00 and gave the company an outperform rating in a research note on Wednesday. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a buy rating and a $385.00 target price for the company. Finally, Morgan Stanley raised their price objective on shares of Axon Enterprise from $285.00 to $310.00 and gave the company an equal weight rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $348.08.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded up $14.65 during trading on Wednesday, hitting $363.89. 680,692 shares of the company were exchanged, compared to its average volume of 518,132. Axon Enterprise has a 52-week low of $189.12 and a 52-week high of $367.95. The stock has a 50 day moving average of $297.44 and a 200 day moving average of $295.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.91 and a quick ratio of 2.55. The company has a market cap of $27.46 billion, a PE ratio of 104.46, a P/E/G ratio of 6.59 and a beta of 0.95.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.18. The business had revenue of $504.00 million for the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a return on equity of 11.71% and a net margin of 15.60%. The firm’s quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, equities research analysts predict that Axon Enterprise will post 2.35 EPS for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Julie A. Cullivan sold 478 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $286.04, for a total value of $136,727.12. Following the transaction, the director now directly owns 5,546 shares of the company’s stock, valued at approximately $1,586,377.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Axon Enterprise news, Director Julie A. Cullivan sold 478 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $286.04, for a total value of $136,727.12. Following the transaction, the director now owns 5,546 shares in the company, valued at $1,586,377.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julie A. Cullivan sold 993 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $281.72, for a total value of $279,747.96. Following the completion of the sale, the director now directly owns 4,553 shares in the company, valued at $1,282,671.16. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Axon Enterprise

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Axon Enterprise during the fourth quarter valued at $195,406,000. Motley Fool Asset Management LLC increased its stake in shares of Axon Enterprise by 238.7% during the first quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after purchasing an additional 346,838 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Axon Enterprise during the first quarter valued at approximately $81,630,000. Vanguard Group Inc. lifted its holdings in shares of Axon Enterprise by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after purchasing an additional 212,401 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $39,907,000. 79.08% of the stock is owned by institutional investors.

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.