Axon Enterprise (NASDAQ:AXON) Price Target Raised to $310.00 at Morgan Stanley

Axon Enterprise (NASDAQ:AXON - Free Report) had its price target lifted by Morgan Stanley from $285.00 to $310.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the biotechnology company's stock.

A number of other equities research analysts have also commented on the stock. William Blair reaffirmed an outperform rating on shares of Axon Enterprise in a research note on Wednesday. TheStreet lowered shares of Axon Enterprise from a b rating to a c+ rating in a research note on Tuesday, February 27th. Needham & Company LLC reaffirmed a buy rating and issued a $400.00 price objective on shares of Axon Enterprise in a research note on Wednesday. Argus started coverage on shares of Axon Enterprise in a research note on Wednesday, March 13th. They issued a buy rating and a $380.00 price objective on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $297.00 to $339.00 and gave the company a buy rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of Moderate Buy and a consensus price target of $314.91.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON traded up $1.99 during midday trading on Friday, hitting $308.23. The stock had a trading volume of 300,741 shares, compared to its average volume of 467,498. The company's 50-day moving average price is $303.45 and its 200-day moving average price is $260.90. The company has a market capitalization of $23.26 billion, a P/E ratio of 134.01 and a beta of 0.93. The company has a quick ratio of 2.66, a current ratio of 3.00 and a debt-to-equity ratio of 0.42. Axon Enterprise has a fifty-two week low of $175.37 and a fifty-two week high of $329.87.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.29. The company 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%. As a group, equities research analysts predict that Axon Enterprise will post 2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AXON. Norges Bank acquired a new position in Axon Enterprise during the fourth quarter worth $195,406,000. Sands Capital Management LLC raised its holdings in Axon Enterprise by 31.1% during the third quarter. Sands Capital Management LLC now owns 2,612,305 shares of the biotechnology company's stock worth $519,823,000 after buying an additional 619,179 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Axon Enterprise by 184.3% during the third quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company's stock worth $138,535,000 after buying an additional 451,350 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in Axon Enterprise by 292.0% during the third quarter. Polar Capital Holdings Plc now owns 265,464 shares of the biotechnology company's stock worth $52,825,000 after buying an additional 197,746 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Axon Enterprise by 28.3% during the third quarter. Bank of New York Mellon Corp now owns 726,400 shares of the biotechnology company's stock worth $144,546,000 after buying an additional 160,359 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

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.