Axon Enterprise's (AXON) "Market Outperform" Rating Reaffirmed at JMP Securities

Key Points

• Axon Enterprise's stock currently holds a "market outperform" rating from JMP Securities, with a price target of $825.00, indicating a potential upside of 16.39% from its current price.
• Axon reported earnings of $2.12 per share, exceeding estimates and showing a year-over-year revenue increase of 32.6% to $668.54 million.
• Institutional ownership stands at 79.08%, reflecting strong interest from hedge funds and institutional investors in Axon Enterprise.

Axon Enterprise (NASDAQ:AXON - Get Free Report)'s stock had its "market outperform" rating reiterated by equities researchers at JMP Securities in a note issued to investors on Monday,Benzinga reports. They presently have a $825.00 price target on the biotechnology company's stock. JMP Securities' price objective would indicate a potential upside of 16.39% from the company's current price.

Several other equities analysts also recently weighed in on the stock. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Wolfe Research assumed coverage on Axon Enterprise in a research note on Monday, July 7th. They issued an "outperform" rating for the company. Craig Hallum upgraded Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective on the stock in a research report on Tuesday, August 5th. Piper Sandler started coverage on Axon Enterprise in a research note on Tuesday, September 23rd. They set an "overweight" rating and a $893.00 target price on the stock. Finally, Northland Securities set a $800.00 price target on shares of Axon Enterprise in a research note on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $841.64.

Axon Enterprise Stock Down 0.5%

AXON opened at $708.84 on Monday. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $55.64 billion, a PE ratio of 175.02, a PEG ratio of 27.53 and a beta of 1.40. Axon Enterprise has a 1-year low of $388.37 and a 1-year high of $885.91. The firm's 50 day simple moving average is $758.60 and its two-hundred day simple moving average is $703.76.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same period in the previous year, the business earned $1.20 earnings per share. Axon Enterprise's quarterly revenue was up 32.6% compared to the same quarter last year. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Axon Enterprise will post 5.8 EPS for the current year.

Insider Activity

In other Axon Enterprise news, Director Hadi Partovi bought 1,358 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the transaction, the director directly owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This represents a 0.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brittany Bagley sold 870 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $773.25, for a total value of $672,727.50. Following the completion of the transaction, the chief financial officer owned 113,022 shares of the company's stock, valued at approximately $87,394,261.50. The trade was a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,932 shares of company stock worth $34,408,816 over the last quarter. Company insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth $480,000. Parallel Advisors LLC grew its holdings in shares of Axon Enterprise by 3.7% during the first quarter. Parallel Advisors LLC now owns 998 shares of the biotechnology company's stock worth $525,000 after purchasing an additional 36 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Axon Enterprise by 3.7% in the first quarter. Rhumbline Advisers now owns 151,787 shares of the biotechnology company's stock valued at $79,832,000 after acquiring an additional 5,428 shares during the period. Czech National Bank grew its stake in shares of Axon Enterprise by 5.9% in the 1st quarter. Czech National Bank now owns 16,638 shares of the biotechnology company's stock valued at $8,751,000 after purchasing an additional 931 shares during the last quarter. Finally, NBC Securities Inc. increased its position in Axon Enterprise by 119,666.7% during the 1st quarter. NBC Securities Inc. now owns 3,593 shares of the biotechnology company's stock worth $1,889,000 after purchasing an additional 3,590 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.

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