Axon Enterprise (NASDAQ:AXON) Stock Price Expected to Rise, JMP Securities Analyst Says

Axon Enterprise (NASDAQ:AXON) had its price objective increased by JMP Securities from $430.00 to $500.00 in a report released on Thursday, Benzinga reports. They currently have a market outperform rating on the biotechnology company’s stock.

Other analysts have also issued reports about the company. Craig Hallum boosted their price target on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Needham & Company LLC boosted their price target on Axon Enterprise from $400.00 to $525.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Axon Enterprise in a report on Wednesday, July 17th. They set a “buy” rating and a $385.00 target price on the stock. Barclays upped their target price on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their target price on Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $388.23.

Axon Enterprise Trading Up 0.9 %

AXON stock traded up $4.01 during midday trading on Thursday, hitting $427.51. 58,508 shares of the company’s stock were exchanged, compared to its average volume of 517,208. The stock’s fifty day moving average price is $400.22 and its 200-day moving average price is $339.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88. The company has a market cap of $32.31 billion, a PE ratio of 111.74, a price-to-earnings-growth ratio of 11.18 and a beta of 0.94. Axon Enterprise has a one year low of $209.02 and a one year high of $455.17.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.18. The firm had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. Research analysts predict that Axon Enterprise will post 1.79 earnings per share for the current fiscal year.

Insider Activity

In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the completion of the sale, the director now directly owns 26,259 shares in the company, valued at $11,500,916.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Matthew R. Mcbrady sold 2,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $364.66, for a total value of $729,320.00. Following the completion of the transaction, the director now directly owns 4,892 shares in the company, valued at approximately $1,783,916.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the completion of the transaction, the director now owns 26,259 shares of the company’s stock, valued at $11,500,916.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,172 shares of company stock valued at $137,000,162. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Axon Enterprise by 4.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,519 shares of the biotechnology company’s stock valued at $2,353,000 after purchasing an additional 319 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Axon Enterprise in the first quarter valued at $392,000. Diversified Trust Co increased its holdings in Axon Enterprise by 61.3% in the first quarter. Diversified Trust Co now owns 2,140 shares of the biotechnology company’s stock valued at $670,000 after purchasing an additional 813 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Axon Enterprise by 14.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 170,376 shares of the biotechnology company’s stock valued at $53,307,000 after purchasing an additional 22,013 shares during the period. Finally, Norden Group LLC acquired a new stake in Axon Enterprise in the first quarter valued at $512,000. 79.08% of the stock is currently owned by institutional investors.

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.