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

Key Points

• "Moderate Buy" consensus from 19 analysts (16 buys, 2 holds, 1 sell) with an average 12‑month price target of $749.63.
• Axon posted an EPS beat ($2.15 vs. $1.60) and revenue of $796.7M (+38.5% YoY), but shares trade near $402.85 and the stock carries a high P/E of ~265.
• Insiders sold roughly 13,855 shares (~$7.1M) in the last 90 days while institutional investors own about 79.1% of the company.

Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) has been given an average rating of "Moderate Buy" by the nineteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $749.6250.

AXON has been the topic of a number of recent research reports. Citizens Jmp reaffirmed a "market outperform" rating and set a $825.00 price objective on shares of Axon Enterprise in a research report on Monday, April 13th. Piper Sandler decreased their price target on shares of Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. TD Cowen lowered their price target on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a report on Wednesday, April 8th. Craig Hallum reaffirmed a "buy" rating and issued a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Axon Enterprise from $925.00 to $750.00 and set an "overweight" rating for the company in a research report on Thursday.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $402.85 on Monday. The firm has a 50 day moving average of $460.07 and a 200 day moving average of $552.96. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $32.46 billion, a price-to-earnings ratio of 265.03, a price-to-earnings-growth ratio of 8.60 and a beta of 1.61. Axon Enterprise has a 52 week low of $339.01 and a 52 week high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.55. The business had revenue of $796.72 million for the quarter, compared to analysts' expectations of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The business's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. On average, sell-side analysts predict that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, CAO Jennifer H. Mak sold 1,500 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the sale, the chief accounting officer owned 12,240 shares of the company's stock, valued at $7,019,028. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erika Nardini sold 198 shares of the company's 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 transaction, the director directly owned 1,946 shares in the company, valued at $985,804.68. This represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,855 shares of company stock valued at $7,109,828. Corporate insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Axon Enterprise

Hedge funds have recently modified their holdings of the stock. Stone House Investment Management LLC acquired a new stake in Axon Enterprise in the 3rd quarter worth approximately $29,000. New Millennium Group LLC acquired a new position in Axon Enterprise during the 3rd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of Axon Enterprise in the second quarter worth $37,000. Root Financial Partners LLC purchased a new position in shares of Axon Enterprise in the third quarter worth $34,000. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Axon Enterprise during the fourth quarter worth $28,000. 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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