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

Shares of Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) have received an average recommendation of "Moderate Buy" from the fourteen ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $763.75.

Several research analysts have issued reports on AXON shares. Needham & Company LLC increased their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Barclays upped their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday. Wolfe Research began coverage on Axon Enterprise in a report on Monday, July 7th. They issued an "outperform" rating on the stock. Finally, Bank of America increased their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th.

Insider Activity

In other news, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total value of $4,493,880.00. Following the sale, the director directly owned 17,740 shares in the company, valued at $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua Isner sold 9,905 shares of Axon Enterprise stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the completion of the sale, the president owned 298,809 shares in the company, valued at $220,530,006.27. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,642 shares of company stock worth $30,500,428. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Axon Enterprise in the first quarter valued at about $1,110,000. Quotient Wealth Partners LLC acquired a new stake in Axon Enterprise during the first quarter worth approximately $438,000. CX Institutional bought a new position in shares of Axon Enterprise during the 1st quarter worth about $115,000. GAMMA Investing LLC lifted its holdings in shares of Axon Enterprise by 11.8% in the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock worth $765,000 after purchasing an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its position in Axon Enterprise by 5.1% in the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after acquiring an additional 46 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Stock Performance

Axon Enterprise stock traded up $10.23 on Friday, reaching $756.09. 404,179 shares of the stock were exchanged, compared to its average volume of 602,176. The firm has a fifty day moving average price of $763.54 and a two-hundred day moving average price of $645.61. Axon Enterprise has a twelve month low of $279.02 and a twelve month high of $830.21. The stock has a market cap of $58.86 billion, a PE ratio of 182.63, a PEG ratio of 87.03 and a beta of 1.29. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm had revenue of $603.63 million during the quarter, compared to the consensus estimate of $585.67 million. During the same period in the prior year, the firm earned $1.15 EPS. The business's revenue was up 31.3% on a year-over-year basis. Sell-side analysts anticipate that Axon Enterprise will post 5.8 EPS for the current year.

About Axon Enterprise

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.