Needham & Company LLC Boosts Axon Enterprise (NASDAQ:AXON) Price Target to $750.00

Axon Enterprise (NASDAQ:AXON - Get Free Report) had its target price upped by research analysts at Needham & Company LLC from $600.00 to $750.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's target price points to a potential upside of 9.55% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Northcoast Research downgraded shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Barclays reiterated a "hold" rating on shares of Axon Enterprise in a research note on Monday, March 10th. Craig Hallum lowered Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Finally, TD Cowen started coverage on Axon Enterprise in a report on Wednesday, January 8th. They issued a "buy" rating and a $700.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $640.91.

Axon Enterprise Stock Down 0.3 %

Shares of AXON stock traded down $2.24 during trading hours on Thursday, hitting $684.59. 642,401 shares of the company's stock traded hands, compared to its average volume of 764,683. Axon Enterprise has a 12-month low of $273.52 and a 12-month high of $715.99. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a market cap of $53.29 billion, a price-to-earnings ratio of 176.90, a PEG ratio of 5.17 and a beta of 1.24. The stock's fifty day simple moving average is $564.50 and its two-hundred day simple moving average is $584.84.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data 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 15.37% and a return on equity of 7.50%. The business had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period last year, the business earned $1.15 EPS. Axon Enterprise's revenue was up 31.3% compared to the same quarter last year. On average, analysts expect that Axon Enterprise will post 5.8 EPS for the current year.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $540.99, for a total value of $5,409,900.00. Following the completion of the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeri Williams sold 307 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $552.72, for a total transaction of $169,685.04. Following the completion of the transaction, the director now directly owns 1,627 shares of the company's stock, valued at $899,275.44. This trade represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXON. TCTC Holdings LLC grew its holdings in Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Axon Enterprise during the fourth quarter worth about $30,000. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Axon Enterprise by 132.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 33 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Axon Enterprise in the first quarter valued at $32,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Axon Enterprise in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

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.