Axon Enterprise (NASDAQ:AXON) Sets New 12-Month High After Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report)'s share price hit a new 52-week high on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $330.00 to $365.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Axon Enterprise traded as high as $329.87 and last traded at $328.11, with a volume of 460440 shares trading hands. The stock had previously closed at $318.26.

Several other research firms have also recently commented on AXON. TheStreet cut shares of Axon Enterprise from a "b" rating to a "c+" rating in a report on Tuesday, February 27th. Robert W. Baird increased their price objective on Axon Enterprise from $260.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. Needham & Company LLC increased their price target on shares of Axon Enterprise from $315.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Axon Enterprise from $297.00 to $339.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Finally, Argus assumed coverage on shares of Axon Enterprise in a report on Wednesday, March 13th. They set a "buy" rating and a $380.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $312.64.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC acquired a new stake in Axon Enterprise during the fourth quarter valued at approximately $26,000. BKM Wealth Management LLC acquired a new stake in Axon Enterprise in the 4th quarter valued at $32,000. Hollencrest Capital Management bought a new stake in Axon Enterprise in the first quarter valued at $29,000. Rise Advisors LLC raised its stake in Axon Enterprise by 49.0% during the first quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company's stock worth $45,000 after acquiring an additional 47 shares in the last quarter. Finally, Key Financial Inc lifted its holdings in shares of Axon Enterprise by 367.6% during the fourth quarter. Key Financial Inc now owns 159 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Price Performance

The company's 50 day moving average price is $296.35 and its 200 day moving average price is $253.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 140.91 and a beta of 0.93.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.29. The firm had revenue of $432.14 million for the quarter, compared to analyst estimates of $418.97 million. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. On average, equities research analysts predict that Axon Enterprise, Inc. will post 2.43 earnings per share for the current fiscal year.

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.