Axon Enterprise (NASDAQ:AXON) Reaches New 52-Week High - Still a Buy?

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $742.34 and last traded at $742.32, with a volume of 424997 shares. The stock had previously closed at $733.18.

Analyst Upgrades and Downgrades

AXON has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Craig Hallum downgraded Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. JMP Securities reissued an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Needham & Company LLC boosted their target price on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Northcoast Research cut Axon Enterprise from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $652.73.

Axon Enterprise Stock Up 1.2%

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. The firm has a 50-day moving average of $588.30 and a 200 day moving average of $597.92. The stock has a market capitalization of $57.79 billion, a price-to-earnings ratio of 191.81, a PEG ratio of 5.17 and a beta of 1.24.

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 (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The business's revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 earnings per share. As a group, sell-side analysts forecast that Axon Enterprise, Inc. will post 5.8 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 9,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $683.31, for a total transaction of $6,149,790.00. Following the sale, the president now owns 308,714 shares of the company's stock, valued at $210,947,363.34. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction on 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 directly owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,764 shares of company stock worth $14,856,635. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Axon Enterprise

Large investors have recently modified their holdings of the business. SageView Advisory Group LLC boosted its holdings in shares of Axon Enterprise by 11.2% during the 1st quarter. SageView Advisory Group LLC now owns 446 shares of the biotechnology company's stock valued at $235,000 after acquiring an additional 45 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Axon Enterprise by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 555,690 shares of the biotechnology company's stock worth $292,265,000 after acquiring an additional 24,132 shares in the last quarter. Woodline Partners LP raised its position in shares of Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company's stock worth $3,646,000 after acquiring an additional 2,003 shares in the last quarter. Empowered Funds LLC raised its position in shares of Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company's stock worth $1,067,000 after acquiring an additional 157 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new stake in Axon Enterprise in the 1st quarter valued at about $294,000. Institutional investors and hedge funds own 79.08% of the company's stock.

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.

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