Axon Enterprise (NASDAQ:AXON) Upgraded by Craig Hallum to "Buy" Rating

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 research analysts at Craig Hallum from a "hold" rating to a "buy" rating in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a $900.00 price target on the biotechnology company's stock. Craig Hallum's target price would indicate a potential upside of 6.82% from the stock's current price.

AXON has been the topic of several other research reports. Morgan Stanley set a $885.00 price target on Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Bank of America lifted 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. The Goldman Sachs Group increased their price objective on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, UBS Group began coverage on shares of Axon Enterprise in a research note on Wednesday, July 16th. They set a "neutral" rating and a $820.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Stock Down 3.3%

Axon Enterprise stock traded down $28.47 on Tuesday, hitting $842.50. 667,201 shares of the stock traded hands, compared to its average volume of 709,795. Axon Enterprise has a 1 year low of $346.71 and a 1 year high of $885.91. The firm has a market cap of $66.14 billion, a P/E ratio of 208.02, a price-to-earnings-growth ratio of 19.36 and a beta of 1.36. The company has a current ratio of 2.95, a quick ratio of 2.62 and a debt-to-equity ratio of 0.63. The business's fifty day simple moving average is $772.30 and its 200 day simple moving average is $663.05.

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

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 905 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $776.39, for a total value of $702,632.95. Following the completion of the sale, the president owned 268,735 shares of the company's stock, valued at approximately $208,643,166.65. The trade was a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 5,913 shares of the 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 transaction, the director directly owned 17,740 shares in the company, valued at $13,482,400. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,642 shares of company stock valued at $25,090,528. Company insiders own 4.40% of the company's stock.

Institutional Trading of Axon Enterprise

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