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

Shares of Axon Enterprise, Inc (NASDAQ:AXON - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $809.23 and last traded at $807.44, with a volume of 17442 shares traded. The stock had previously closed at $803.95.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AXON shares. Needham & Company LLC boosted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Bank of America increased their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Barclays lifted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group upped their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $699.55.

Axon Enterprise Stock Up 0.2%

The firm's 50-day moving average is $709.79 and its two-hundred day moving average is $629.30. The stock has a market cap of $62.74 billion, a P/E ratio of 194.66, a PEG ratio of 90.37 and a beta of 1.29. 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 (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The firm had revenue of $603.63 million for the quarter, compared to analysts' expectations of $585.67 million. During the same period last year, the firm earned $1.15 earnings per share. The business's revenue for the quarter was up 31.3% on a year-over-year basis. On average, equities research analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $738.84, for a total value of $960,492.00. Following the sale, the director now owns 4,829 shares of the company's stock, valued at $3,567,858.36. The trade was a 21.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brittany Bagley sold 3,400 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the transaction, the chief financial officer now owns 131,833 shares of the company's stock, valued at approximately $92,283,100. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,642 shares of company stock worth $30,500,428 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently made changes to their positions in the company. TCTC Holdings LLC increased its stake in shares of Axon Enterprise by 75.0% during the 1st 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 position in Axon Enterprise during the fourth quarter worth approximately $30,000. Bartlett & CO. Wealth Management LLC increased its position in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares during the last quarter. Banque Transatlantique SA bought a new stake in Axon Enterprise in the first quarter valued at approximately $31,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at approximately $32,000. 79.08% of the stock is owned by institutional investors.

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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