UBS Group Initiates Coverage on Axon Enterprise (NASDAQ:AXON)

UBS Group started coverage on shares of Axon Enterprise (NASDAQ:AXON - Free Report) in a report published on Wednesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $820.00 target price on the biotechnology company's stock.

A number of other analysts have also weighed in on the stock. Wolfe Research initiated coverage on shares of Axon Enterprise in a report on Monday, July 7th. They issued an "outperform" rating for the company. The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Bank of America raised their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Barclays raised their price objective on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $763.75.

Axon Enterprise Price Performance

Shares of NASDAQ AXON traded up $8.61 during mid-day trading on Wednesday, hitting $754.47. 158,463 shares of the stock were exchanged, compared to its average volume of 697,803. The company has a market cap of $58.74 billion, a P/E ratio of 182.24, a PEG ratio of 85.50 and a beta of 1.29. The stock's fifty day simple moving average is $762.11 and its two-hundred day simple moving average is $644.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. Axon Enterprise has a twelve month low of $279.02 and a twelve month high of $830.21.

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

Insider Activity at Axon Enterprise

In related news, Director Michael Garnreiter sold 5,913 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $13,482,400. The trade was a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Cameron Brooks sold 3,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $740.76, for a total transaction of $2,222,280.00. Following the completion of the sale, the executive directly owned 19,447 shares in the company, valued at $14,405,559.72. This represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,642 shares of company stock valued at $30,500,428. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Impact Capital Partners LLC increased its stake in Axon Enterprise by 7.6% in the 2nd quarter. Impact Capital Partners LLC now owns 876 shares of the biotechnology company's stock valued at $725,000 after buying an additional 62 shares during the last quarter. Childress Capital Advisors LLC acquired a new position in shares of Axon Enterprise during the 2nd quarter worth about $214,000. PFG Investments LLC increased its stake in shares of Axon Enterprise by 4.1% during the 2nd quarter. PFG Investments LLC now owns 3,760 shares of the biotechnology company's stock worth $3,113,000 after purchasing an additional 147 shares during the last quarter. TABR Capital Management LLC acquired a new position in shares of Axon Enterprise during the 2nd quarter worth about $271,000. Finally, Institute for Wealth Management LLC. increased its stake in shares of Axon Enterprise by 0.3% during the 2nd quarter. Institute for Wealth Management LLC. now owns 20,694 shares of the biotechnology company's stock worth $17,133,000 after purchasing an additional 68 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.