Axon Enterprise (NASDAQ:AXON) Earns Buy Rating from Needham & Company LLC

Key Points

• Needham & Company LLC has reissued a buy rating for Axon Enterprise (NASDAQ:AXON) with a target price of $870.00, indicating a potential upside of 11.89% from its previous close.
• Axon Enterprise reported an EPS of $2.12 for its latest quarter, exceeding estimates, and saw a 32.6% year-over-year revenue increase of $668.54 million.
• Overall, the stock has been rated as a Moderate Buy by analysts, with fourteen analysts recommending a buy and a consensus price target of $841.64.

Axon Enterprise (NASDAQ:AXON - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $870.00 target price on the biotechnology company's stock. Needham & Company LLC's price objective points to a potential upside of 11.89% from the company's previous close.

Other analysts also recently issued reports about the stock. Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 2nd. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective on the stock in a report on Tuesday, August 5th. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Bank of America lifted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, UBS Group reiterated a "neutral" rating and issued a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $841.64.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $777.58 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The company has a market capitalization of $61.04 billion, a P/E ratio of 192.00, a price-to-earnings-growth ratio of 28.48 and a beta of 1.40. The company's 50 day moving average price is $761.12 and its two-hundred day moving average price is $698.98. Axon Enterprise has a 52 week low of $388.36 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business's quarterly revenue was up 32.6% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, analysts expect that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Joshua Isner sold 15,919 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the transaction, the president directly owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 3,053,982 shares of the company's stock, valued at $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,932 shares of company stock valued at $34,408,816 in the last ninety days. 5.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caldwell Trust Co bought a new position in Axon Enterprise during the second quarter worth $530,000. Canal Capital Management LLC bought a new position in Axon Enterprise during the second quarter worth $265,000. Valeo Financial Advisors LLC boosted its position in Axon Enterprise by 4.0% during the second quarter. Valeo Financial Advisors LLC now owns 987 shares of the biotechnology company's stock worth $817,000 after purchasing an additional 38 shares during the period. Q3 Asset Management bought a new position in Axon Enterprise during the second quarter worth $728,000. Finally, Total Investment Management Inc. bought a new position in Axon Enterprise during the second quarter worth $84,000. 79.08% of the stock is owned by institutional investors.

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.

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