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

Key Points

• Analyst sentiment is positive: Axon Enterprise has a “Moderate Buy” consensus from 18 analysts, including 15 buy ratings and three holds. The average 12-month price target is $725.25.
• Recent results exceeded expectations: The company reported quarterly EPS of $1.61 versus the $1.60 consensus and revenue of $807.35 million, up 33.7% year over year and above estimates.
• Insiders have been net sellers: Insiders sold 58,989 shares worth approximately $30.5 million over the last quarter, while institutional investors and hedge funds own 79.08% of the stock.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eighteen analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $725.25.

AXON has been the topic of several research reports. Piper Sandler upped their price objective on shares of Axon Enterprise from $674.00 to $724.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Morgan Stanley set a $600.00 target price on shares of Axon Enterprise in a research note 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. Royal Bank Of Canada reiterated an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a report on Thursday, May 7th.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $643.79, for a total value of $6,437,900.00. Following the transaction, the chief executive officer owned 3,040,997 shares of the company's stock, valued at approximately $1,957,763,458.63. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider directly owned 34,024 shares in the company, valued at $16,501,640. The trade was a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 58,989 shares of company stock valued at $30,527,983. Insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC boosted its stake in shares of Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock worth $342,000 after purchasing an additional 15 shares during the period. Tower Research Capital LLC TRC raised its position in Axon Enterprise by 1.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company's stock worth $1,350,000 after purchasing an additional 19 shares during the period. Synergy Financial Group LTD raised its position in Axon Enterprise by 1.4% in the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock worth $996,000 after purchasing an additional 19 shares during the period. Certuity LLC lifted its stake in Axon Enterprise by 5.1% in the fourth quarter. Certuity LLC now owns 474 shares of the biotechnology company's stock worth $269,000 after purchasing an additional 23 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its stake in Axon Enterprise by 6.7% in the fourth quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company's stock worth $207,000 after purchasing an additional 23 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $547.65 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $44.14 billion, a P/E ratio of 219.94, a P/E/G ratio of 10.72 and a beta of 1.38. Axon Enterprise has a 12 month low of $339.01 and a 12 month high of $885.91. The stock has a 50 day moving average of $488.89 and a 200-day moving average of $477.58.

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