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

Key Points

• Axon Enterprise has a consensus analyst rating of “Moderate Buy”, based on coverage from 19 research firms. Sixteen analysts rate it a buy, while three rate it a hold, with an average price target of $712.75.
• The stock rose 3.0% and opened at $388.19. Even after the gain, it remains well below its 52-week high of $885.91 and below both its 50-day and 200-day moving averages.
• Axon reported better-than-expected quarterly results, earning $1.61 per share on revenue of $807.35 million, with revenue up 33.7% year over year. The company also saw notable insider selling, while institutional investors continue to hold a large majority of the shares.

Shares of Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nineteen research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $712.75.

AXON has been the topic of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Weiss Ratings raised shares of Axon Enterprise from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. Citigroup reissued a "buy" rating on shares of Axon Enterprise in a report on Wednesday, February 25th. UBS Group dropped their target price on shares of Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 3rd.

Axon Enterprise Trading Up 3.0%

NASDAQ AXON opened at $388.19 on Friday. The company has a market capitalization of $31.29 billion, a price-to-earnings ratio of 155.90, a price-to-earnings-growth ratio of 8.86 and a beta of 1.44. Axon Enterprise has a 12 month low of $339.01 and a 12 month high of $885.91. The company's fifty day moving average price is $435.78 and its two-hundred day moving average price is $516.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to analysts' expectations of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm's revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 earnings per share. As a group, research analysts predict that Axon Enterprise will post 1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Erika Nardini sold 198 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the sale, the director owned 1,946 shares of the company's stock, valued at $985,804.68. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the sale, the insider directly owned 55,588 shares in the company, valued at approximately $29,740,135.88. This trade represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 13,855 shares of company stock worth $7,109,828. 4.40% of the stock is owned by company insiders.

Institutional Trading of Axon Enterprise

Large investors have recently modified their holdings of the company. NEOS Investment Management LLC increased its stake in Axon Enterprise by 82.7% during the 3rd quarter. NEOS Investment Management LLC now owns 25,369 shares of the biotechnology company's stock valued at $18,206,000 after buying an additional 11,482 shares during the period. Vanguard Group Inc. increased its stake in Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company's stock valued at $6,684,217,000 after buying an additional 376,904 shares during the period. Legal & General Group Plc increased its stake in Axon Enterprise by 3.1% during the 3rd quarter. Legal & General Group Plc now owns 421,114 shares of the biotechnology company's stock valued at $302,208,000 after buying an additional 12,736 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Axon Enterprise by 93.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company's stock valued at $13,270,000 after buying an additional 11,262 shares during the period. Finally, BIT Capital GmbH increased its stake in Axon Enterprise by 75.6% during the 3rd quarter. BIT Capital GmbH now owns 3,535 shares of the biotechnology company's stock valued at $2,537,000 after buying an additional 1,522 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

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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