Barclays Forecasts Strong Price Appreciation for Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise (NASDAQ:AXON - Free Report) had its price objective lifted by Barclays from $726.00 to $735.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the biotechnology company's stock.

Several other research firms have also issued reports on AXON. The Goldman Sachs Group lifted their target price on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a "buy" rating in a report on Monday, January 27th. Needham & Company LLC lifted their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Northcoast Research downgraded Axon Enterprise from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Craig Hallum cut Axon Enterprise from a "buy" rating to a "cautious" rating in a research note on Monday, March 10th. Finally, JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $652.73.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock traded up $3.76 during trading on Friday, hitting $728.53. 546,613 shares of the stock traded hands, compared to its average volume of 763,216. The stock has a market cap of $56.72 billion, a price-to-earnings ratio of 188.25, a PEG ratio of 5.17 and a beta of 1.24. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. Axon Enterprise has a 52 week low of $273.52 and a 52 week high of $732.17. The firm's fifty day moving average is $572.18 and its 200-day moving average is $588.52.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business 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%. During the same period last year, the company earned $1.15 EPS. Axon Enterprise's revenue for the quarter was up 31.3% compared to the same quarter last year. Research analysts expect that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In related news, Director Jeri Williams sold 307 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the transaction, the director now directly owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Joshua Isner sold 9,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $683.31, for a total value of $6,149,790.00. Following the completion of the sale, the president now owns 308,714 shares of the company's stock, valued at approximately $210,947,363.34. The trade was a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,964 shares of company stock valued at $12,189,275. Corporate insiders own 4.40% of the company's stock.

Institutional Trading of Axon Enterprise

Institutional investors and hedge funds have recently bought and sold shares of the stock. TCTC Holdings LLC boosted its holdings in Axon Enterprise by 75.0% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 24 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC increased its stake in Axon Enterprise by 132.0% during the 1st 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 period. Catalyst Capital Advisors LLC acquired a new stake in Axon Enterprise during the 1st quarter worth approximately $32,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter worth $40,000. 79.08% of the stock is currently 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.