JPMorgan Chase & Co. Issues Positive Forecast for Axon Enterprise (NASDAQ:AXON) Stock Price

Axon Enterprise (NASDAQ:AXON - Get Free Report) had its target price upped by equities researchers at JPMorgan Chase & Co. from $730.00 to $850.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 14.40% from the company's current price.

AXON has been the topic of a number of other research reports. Needham & Company LLC lifted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Wolfe Research assumed coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. Bank of America boosted their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. UBS Group assumed coverage on Axon Enterprise in a research note on Wednesday. They issued a "neutral" rating and a $820.00 target price on the stock. Finally, Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $734.62.

Axon Enterprise Trading Up 0.0%

Axon Enterprise stock traded up $0.24 during trading on Thursday, reaching $743.01. The company had a trading volume of 174,339 shares, compared to its average volume of 700,630. Axon Enterprise has a 12-month low of $279.02 and a 12-month high of $830.21. The stock's 50 day moving average price is $760.96 and its two-hundred day moving average price is $643.52. The firm has a market capitalization of $57.84 billion, a price-to-earnings ratio of 179.47, a PEG ratio of 85.86 and a beta of 1.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The business had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The company's quarterly revenue was up 31.3% on a year-over-year basis. As a group, equities analysts expect that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $700.00, for a total value of $2,380,000.00. Following the completion of the transaction, the chief financial officer owned 131,833 shares in the company, valued at $92,283,100. This trade represents a 2.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Garnreiter sold 5,913 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the transaction, the director directly owned 17,740 shares in the company, valued at $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,642 shares of company stock valued at $30,500,428. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors increased its holdings in Axon Enterprise by 86.4% in the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after buying an additional 841,772 shares in the last quarter. Alliancebernstein L.P. boosted its position in Axon Enterprise by 273.8% in the 4th quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after buying an additional 812,337 shares during the last quarter. Norges Bank acquired a new stake in Axon Enterprise during the fourth quarter valued at approximately $482,081,000. GQG Partners LLC bought a new position in Axon Enterprise during the 4th quarter worth approximately $478,349,000. Finally, GAMMA Investing LLC lifted its holdings in Axon Enterprise by 58,725.5% in the first quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after acquiring an additional 763,431 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, 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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