Axon Enterprise, Inc (NASDAQ:AXON) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Axon Enterprise has an average analyst rating of “Moderate Buy” from 19 analysts, with 16 buy ratings, 1 strong buy, and 2 hold ratings. The average 12-month price target is $712.75.
• The company’s latest quarterly results beat expectations, with EPS of $1.61 versus a $1.60 estimate and revenue of $807.35 million, up 33.7% year over year. Analysts now expect full-year EPS of $1.63.
• Axon shares opened at $597.04, near the upper end of its 1-year range of $339.01 to $885.91, while insiders have been selling stock recently, including CEO Patrick W. Smith’s sale of 10,000 shares under a pre-arranged plan.

Shares of Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) have been given an average rating of "Moderate Buy" by the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $712.75.

A number of research analysts recently issued reports on AXON shares. Piper Sandler reaffirmed an "overweight" rating and set a $674.00 target price on shares of Axon Enterprise in a report on Monday, June 15th. Citizens Jmp reissued a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a report on Thursday, June 25th. Weiss Ratings raised shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. UBS Group reduced their price objective on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Finally, TD Cowen lowered their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th.

Axon Enterprise Stock Performance

AXON opened at $597.04 on Friday. The business has a 50 day moving average price of $437.68 and a two-hundred day moving average price of $482.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The company has a market capitalization of $48.12 billion, a price-to-earnings ratio of 239.78, a price-to-earnings-growth ratio of 12.18 and a beta of 1.38. Axon Enterprise has a 1-year low of $339.01 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.90 million. During the same period last year, the firm earned $1.47 EPS. The firm's revenue for the quarter was up 33.7% on a year-over-year basis. Research analysts predict that Axon Enterprise will post 1.63 EPS for the current fiscal year.

Insider Activity

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $500.00, for a total value of $5,000,000.00. Following the transaction, the chief executive officer owned 3,050,997 shares of the company's stock, valued at approximately $1,525,498,500. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $478.97, for a total value of $270,139.08. Following the sale, the director owned 3,632 shares of the company's stock, valued at $1,739,619.04. This trade represents a 13.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,989 shares of company stock valued at $24,090,083 in the last ninety days. 4.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of AXON. Evergreen Capital Management LLC boosted its position in shares of Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock valued at $342,000 after purchasing an additional 15 shares during the period. Quadrant Capital Group LLC raised its holdings in Axon Enterprise by 0.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company's stock worth $2,848,000 after buying an additional 19 shares during the period. CWA Asset Management Group LLC lifted its stake in Axon Enterprise by 5.2% during the fourth quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company's stock valued at $220,000 after buying an additional 19 shares in the last quarter. Synergy Financial Group LTD lifted its stake in Axon Enterprise by 1.4% during the third quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock valued at $996,000 after buying an additional 19 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Axon Enterprise by 1.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company's stock worth $1,350,000 after buying an additional 19 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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