JPMorgan Chase & Co. Cuts Axon Enterprise (NASDAQ:AXON) Price Target to $750.00

Key Points

• JPMorgan Chase cut its price target on Axon from $925 to $750 while maintaining an "overweight" rating, implying roughly an 89% upside from the prior close.
• Consensus from analysts is a "Moderate Buy" with a consensus target of about $749.63—16 analysts rate Buy, two Hold and one Sell.
• Axon recently beat estimates (Q: $2.15 EPS vs $1.60 expected; revenue $796.7M, up 38.5% YoY) but the stock trades around $396.87, well below its 200-day average and 52‑week high.

Axon Enterprise (NASDAQ:AXON - Get Free Report) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $925.00 to $750.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 88.98% from the company's previous close.

Other equities analysts also recently issued reports about the company. Morgan Stanley restated an "overweight" rating on shares of Axon Enterprise in a research report on Wednesday, April 8th. Craig Hallum restated a "buy" rating and set a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Piper Sandler lowered their price objective on Axon Enterprise from $753.00 to $690.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. The Goldman Sachs Group lowered their price objective on Axon Enterprise from $720.00 to $625.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Finally, TD Cowen lowered their price objective on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating for the company in a research report on Wednesday, April 8th. Sixteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $749.63.

Axon Enterprise Trading Down 1.3%

Axon Enterprise stock traded down $5.31 during trading hours on Thursday, hitting $396.87. The stock had a trading volume of 599,463 shares, compared to its average volume of 1,044,537. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $31.91 billion, a price-to-earnings ratio of 261.65, a P/E/G ratio of 8.13 and a beta of 1.61. Axon Enterprise has a one year low of $339.01 and a one year high of $885.91. The business's 50 day simple moving average is $460.43 and its 200-day simple moving average is $558.53.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.60 by $0.55. The firm had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The business's quarterly revenue was up 38.5% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. On average, equities analysts predict that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Axon Enterprise news, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the sale, the chief accounting officer directly owned 12,240 shares in the company, valued at approximately $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Isaiah Fields sold 2,000 shares of Axon Enterprise stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $535.01, for a total value of $1,070,020.00. Following the completion of the sale, the insider owned 55,588 shares of the company's stock, valued at approximately $29,740,135.88. The trade was a 3.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,855 shares of company stock valued at $7,109,828 in the last 90 days. Company insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV acquired a new stake in Axon Enterprise in the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC acquired a new stake in Axon Enterprise in the third quarter valued at approximately $29,000. New Millennium Group LLC acquired a new stake in Axon Enterprise in the third quarter valued at approximately $29,000. Sound Income Strategies LLC boosted its position in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after buying an additional 44 shares during the last quarter. Finally, Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $30,000. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Company Profile

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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