Barclays Raises Axon Enterprise (NASDAQ:AXON) Price Target to $381.00

Axon Enterprise (NASDAQ:AXON - Get Free Report) had its target price hoisted by Barclays from $308.00 to $381.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the biotechnology company's stock. Barclays's price target indicates a potential upside of 22.17% from the stock's current price.

Several other research firms have also recently issued reports on AXON. JMP Securities reiterated a "market outperform" rating and set a $375.00 target price on shares of Axon Enterprise in a research report on Tuesday. StockNews.com cut shares of Axon Enterprise from a "buy" rating to a "hold" rating in a research note on Thursday, March 14th. William Blair restated an "outperform" rating on shares of Axon Enterprise in a research report on Wednesday, April 24th. Morgan Stanley boosted their target price on Axon Enterprise from $285.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Friday, April 26th. Finally, The Goldman Sachs Group raised their price target on Axon Enterprise from $297.00 to $339.00 and gave the company a "buy" rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average target price of $333.08.

Axon Enterprise Stock Performance

NASDAQ AXON traded down $0.87 on Wednesday, reaching $311.86. 480,353 shares of the stock were exchanged, compared to its average volume of 477,633. The firm has a market capitalization of $23.53 billion, a PE ratio of 136.16 and a beta of 0.91. Axon Enterprise has a one year low of $175.37 and a one year high of $329.87. The company's 50-day simple moving average is $310.77 and its two-hundred day simple moving average is $267.13. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, May 6th. The biotechnology company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.20. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The company had revenue of $460.74 million for the quarter, compared to analysts' expectations of $441.57 million. During the same quarter in the previous year, the company earned $0.51 EPS. Axon Enterprise's revenue for the quarter was up 34.3% on a year-over-year basis. Analysts expect that Axon Enterprise will post 2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new position in Axon Enterprise in the 4th quarter valued at $26,000. Trivant Custom Portfolio Group LLC bought a new position in shares of Axon Enterprise in the first quarter worth about $31,000. BKM Wealth Management LLC purchased a new position in Axon Enterprise in the 4th quarter worth about $32,000. First PREMIER Bank purchased a new position in Axon Enterprise in the 1st quarter worth about $33,000. Finally, Key Financial Inc lifted its holdings in Axon Enterprise by 367.6% during the 4th quarter. Key Financial Inc now owns 159 shares of the biotechnology company's stock valued at $41,000 after buying an additional 125 shares in the last quarter. 79.08% of the stock is currently 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.