Axon Enterprise, Inc (NASDAQ:AXON) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Axon Enterprise, with 13 buy ratings and three holds among 16 brokerages. The average 12-month price target is approximately $730.92.
• Axon’s latest quarterly results exceeded expectations, with EPS of $1.88 versus $1.84 expected and revenue of $904.39 million, up 35.3% year over year.
• Insiders sold 66,989 shares worth about $35.2 million during the last quarter, while institutional investors and hedge funds continue to hold a substantial 79.08% of the company’s stock.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $730.9231.

AXON has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, July 21st. Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Citizens Jmp restated a "market outperform" rating and set a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. The Goldman Sachs Group restated a "buy" rating and set a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Finally, Morgan Stanley upped their target price on Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th.

Insiders Place Their Bets

In related news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Cameron Brooks sold 1,242 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive directly owned 49,710 shares in the company, valued at $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 66,989 shares of company stock valued at $35,216,932. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors have recently modified their holdings of AXON. Darwin Wealth Management LLC acquired a new position in Axon Enterprise in the second quarter worth about $37,000. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise in the fourth quarter valued at about $28,000. Camelot Portfolios LLC bought a new stake in Axon Enterprise in the fourth quarter valued at about $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Axon Enterprise during the second quarter valued at approximately $31,000. Finally, AlphaCentric Advisors LLC acquired a new stake in Axon Enterprise during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Axon Enterprise stock opened at $627.75 on Friday. Axon Enterprise has a 12-month low of $339.01 and a 12-month high of $794.29. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 260.48, a price-to-earnings-growth ratio of 10.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The firm's fifty day moving average price is $543.11 and its 200 day moving average price is $476.87.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm's revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 EPS. On average, research analysts forecast that Axon Enterprise will post 2.04 EPS for the current fiscal year.

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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