Axon Enterprise (NASDAQ:AXON) Given Market Outperform Rating at Citizens Jmp

Key Points

• Citizens Jmp reissued a Market Outperform rating on Axon with an $825 price target (implying ~138.6% upside), while the analyst consensus sits at a Moderate Buy with an average target of $755.88.
• Axon beat quarterly expectations with EPS of $2.15 versus $1.60 expected and revenue of $796.7M (vs. $755.3M est.), representing a 38.5% year‑over‑year revenue increase.
• Shares opened at $345.71 (near a 52‑week low of $339.01) despite a $27.8B market cap and a P/E of 226.8, and insiders sold roughly $7.1M of stock in the last quarter.

Axon Enterprise (NASDAQ:AXON - Get Free Report)'s stock had its "market outperform" rating reissued by equities research analysts at Citizens Jmp in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $825.00 price target on the biotechnology company's stock. Citizens Jmp's price objective indicates a potential upside of 138.64% from the stock's previous close.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Axon Enterprise from $720.00 to $625.00 and set a "buy" rating on the stock in a report on Wednesday, April 8th. Morgan Stanley restated an "overweight" rating on shares of Axon Enterprise in a research report on Wednesday. Northcoast Research upgraded Axon Enterprise from a "neutral" rating to a "buy" rating and set a $742.00 price target for the company in a research report on Tuesday, January 6th. Royal Bank Of Canada dropped their target price on shares of Axon Enterprise from $860.00 to $735.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Finally, Weiss Ratings downgraded shares of Axon Enterprise from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday. Sixteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $755.88.

Axon Enterprise Stock Down 0.1%

Shares of NASDAQ:AXON opened at $345.71 on Monday. The business's 50 day simple moving average is $464.41 and its two-hundred day simple moving average is $564.42. Axon Enterprise has a 52-week low of $339.01 and a 52-week high of $885.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The firm has a market cap of $27.80 billion, a P/E ratio of 226.78, a PEG ratio of 7.38 and a beta of 1.61.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The business had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. During the same period in the prior year, the firm posted $2.08 EPS. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, research analysts forecast that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeri Williams sold 157 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total transaction of $76,930.00. Following the sale, the director directly owned 1,159 shares in the company, valued at $567,910. This represents a 11.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Erika Nardini sold 198 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the transaction, the director directly owned 1,946 shares in the company, valued at approximately $985,804.68. This represents a 9.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 13,855 shares of company stock worth $7,109,828. 5.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its stake in shares of Axon Enterprise by 53.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company's stock worth $6,542,000 after purchasing an additional 4,002 shares during the last quarter. World Investment Advisors lifted its stake in shares of Axon Enterprise by 37.1% during the 4th quarter. World Investment Advisors now owns 1,035 shares of the biotechnology company's stock worth $588,000 after buying an additional 280 shares during the last quarter. Pure Financial Advisors LLC increased its position in Axon Enterprise by 6.7% during the 4th quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company's stock worth $207,000 after buying an additional 23 shares during the period. Tobam grew its stake in Axon Enterprise by 17.3% during the fourth quarter. Tobam now owns 5,833 shares of the biotechnology company's stock worth $3,313,000 after buying an additional 859 shares in the last quarter. Finally, Clearwave Capital LLC bought a new stake in shares of Axon Enterprise during the fourth quarter worth $325,000. Institutional investors 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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