Axon Enterprise (NASDAQ:AXON) Upgraded at Craig Hallum

Key Points

• Axon Enterprise was recently upgraded from a "hold" to a "buy" rating by Craig Hallum, with a price target of $900.00, indicating a potential upside of 20.82%.
• The company reported $2.12 earnings per share for the last quarter, exceeding the consensus estimate of $1.54, along with a revenue of $668.54 million, marking a 32.6% year-over-year increase.
• A majority of analysts have rated Axon Enterprise stock as a "Moderate Buy," with a consensus price target of $795.00, while institutional investors hold approximately 79.08% of the shares.

Axon Enterprise (NASDAQ:AXON - Get Free Report) was upgraded by analysts at Craig Hallum from a "hold" rating to a "buy" rating in a research report issued on Tuesday, Marketbeat reports. The brokerage presently has a $900.00 price objective on the biotechnology company's stock. Craig Hallum's price target points to a potential upside of 6.82% from the stock's previous close.

A number of other analysts have also recently commented on the stock. JMP Securities boosted their target price on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. 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. Wolfe Research initiated coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. UBS Group started coverage on Axon Enterprise in a research note on Wednesday, July 16th. They issued a "neutral" rating and a $820.00 price target on the stock. Finally, Bank of America boosted their price target on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Two equities research analysts have rated the stock with a hold rating and thirteen 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 $837.69.

Axon Enterprise Stock Performance

NASDAQ:AXON traded down $28.47 during midday trading on Tuesday, hitting $842.50. The company's stock had a trading volume of 667,201 shares, compared to its average volume of 731,927. Axon Enterprise has a fifty-two week low of $346.71 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.62. The firm has a market cap of $66.14 billion, a P/E ratio of 208.02, a P/E/G ratio of 96.51 and a beta of 1.36. The firm's 50 day moving average is $774.27 and its 200-day moving average is $664.69.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%. Axon Enterprise's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. Equities analysts anticipate that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of Axon Enterprise stock in a transaction dated 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 owned 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 5,913 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total value of $4,493,880.00. Following the transaction, the director directly owned 17,740 shares of the company's stock, valued at approximately $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock valued at $25,090,528 in the last quarter. Corporate insiders own 4.40% of the company's stock.

Institutional Trading of Axon Enterprise

A number of institutional investors have recently added to or reduced their stakes in AXON. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Axon Enterprise during the first quarter worth about $1,110,000. Quotient Wealth Partners LLC purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $438,000. CX Institutional purchased a new stake in Axon Enterprise in the 1st quarter valued at approximately $115,000. GAMMA Investing LLC grew its holdings in Axon Enterprise by 11.8% during the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after buying an additional 154 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Axon Enterprise by 5.1% during the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after buying an additional 46 shares during the last quarter. 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.