Citizens Jmp Reiterates "Market Outperform" Rating for Axon Enterprise (NASDAQ:AXON)

Key Points

• Citizens JMP reiterated its Market Outperform rating on Axon Enterprise and kept a $700 price target, implying about 52% upside from the current share price.
• Axon shares were trading higher on Thursday at $459.51, while the company carried a market cap of about $37.0 billion and a consensus analyst rating of Moderate Buy with an average target of $712.75.
• The company recently reported better-than-expected quarterly results, with EPS of $1.61 and revenue of $807.35 million, while CEO Patrick W. Smith and CRO Cameron Brooks both made recent insider share sales.

Axon Enterprise (NASDAQ:AXON - Get Free Report)'s stock had its "market outperform" rating restated by investment analysts at Citizens Jmp in a note issued to investors on Thursday,Benzinga reports. They presently have a $700.00 price target on the biotechnology company's stock. Citizens Jmp's target price indicates a potential upside of 52.33% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Craig Hallum restated a "buy" rating and issued a $820.00 price target on shares of Axon Enterprise in a report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. The Goldman Sachs Group set a $535.00 price objective on shares of Axon Enterprise in a research report on Thursday, May 7th. UBS Group decreased their target price on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Finally, Robert W. Baird set a $800.00 price target on Axon Enterprise in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $712.75.

Axon Enterprise Trading Up 0.6%

AXON traded up $2.79 during trading on Thursday, hitting $459.51. The company's stock had a trading volume of 141,988 shares, compared to its average volume of 1,083,390. The firm has a market capitalization of $37.04 billion, a P/E ratio of 183.80, a PEG ratio of 7.87 and a beta of 1.45. Axon Enterprise has a twelve month low of $339.01 and a twelve month high of $885.91. The stock's fifty day moving average price is $418.11 and its 200-day moving average price is $482.95. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company's quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. Analysts anticipate that Axon Enterprise will post 1.82 EPS for the current year.

Insider Transactions at Axon Enterprise

In other news, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the completion of the transaction, the chief executive officer directly owned 3,060,997 shares in the company, valued at $1,530,498,500. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Cameron Brooks sold 1,242 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the sale, the executive directly owned 49,710 shares of the company's stock, valued at approximately $24,855,000. The trade was a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 38,989 shares of company stock valued at $19,090,083. Corporate insiders own 4.20% of the company's stock.

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently modified their holdings of AXON. Evergreen Capital Management LLC boosted its position in shares of Axon Enterprise by 3.8% during the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company's stock valued at $342,000 after buying an additional 15 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Axon Enterprise by 0.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,968 shares of the biotechnology company's stock valued at $2,848,000 after acquiring an additional 19 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in Axon Enterprise by 5.2% during the 4th quarter. CWA Asset Management Group LLC now owns 387 shares of the biotechnology company's stock valued at $220,000 after acquiring an additional 19 shares in the last quarter. Synergy Financial Group LTD boosted its holdings in Axon Enterprise by 1.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company's stock worth $996,000 after acquiring an additional 19 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Axon Enterprise by 1.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company's stock worth $1,350,000 after acquiring an additional 19 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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