Axon Enterprise, Inc (NASDAQ:AXON) Receives $837.69 Consensus PT from Analysts

Key Points

• Axon Enterprise, Inc (NASDAQ:AXON) has received an average rating of “Moderate Buy” from analysts, with two hold recommendations and thirteen buy recommendations.
• The average twelve-month target price from brokers is approximately $837.69, with varied target prices from different firms, including Bank of America raising it to $1,000.00.
• The company reported an earnings per share (EPS) of $2.12 for the last quarter, exceeding analysts' expectations by $0.58, and showing a year-over-year revenue growth of 32.6%.

Shares of Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $837.6923.

Several brokerages have recently issued reports on AXON. Wolfe Research began coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. increased their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating and set a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $831.29, for a total transaction of $8,312,900.00. Following the transaction, the chief executive officer directly owned 3,053,982 shares in the company, valued at approximately $2,538,744,696.78. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Joshua Isner sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $776.39, for a total transaction of $702,632.95. Following the transaction, the president owned 268,735 shares in the company, valued at approximately $208,643,166.65. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,185 shares of company stock valued at $24,126,378 in the last quarter. Company insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Axon Enterprise

Hedge funds have recently modified their holdings of the business. TCTC Holdings LLC grew its position in shares of Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise in the 4th quarter valued at $30,000. Bartlett & CO. Wealth Management LLC grew its position in Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after buying an additional 33 shares during the last quarter. Banque Transatlantique SA purchased a new position in Axon Enterprise in the 1st quarter valued at $31,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Axon Enterprise in the 1st quarter valued at $32,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Trading Up 0.6%

AXON stock traded up $4.41 during mid-day trading on Wednesday, hitting $754.24. 583,095 shares of the company were exchanged, compared to its average volume of 711,708. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $59.21 billion, a P/E ratio of 186.23, a PEG ratio of 28.10 and a beta of 1.36. The business has a fifty day simple moving average of $774.61 and a 200-day simple moving average of $669.28. Axon Enterprise has a 12-month low of $346.71 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise's revenue was up 32.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

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.