Axon Enterprise (NASDAQ:AXON) Shares Gap Down to $327.64

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $327.64, but opened at $312.82. Axon Enterprise shares last traded at $311.00, with a volume of 195,069 shares.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Axon Enterprise from $297.00 to $339.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Morgan Stanley upped their target price on Axon Enterprise from $285.00 to $310.00 and gave the company an "equal weight" rating in a report on Friday, April 26th. Craig Hallum lifted their price target on Axon Enterprise from $325.00 to $370.00 and gave the stock a "buy" rating in a report on Tuesday. StockNews.com downgraded Axon Enterprise from a "buy" rating to a "hold" rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. lifted their target price on Axon Enterprise from $330.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $327.00.

Axon Enterprise Price Performance

The firm's 50 day moving average price is $309.95 and its two-hundred day moving average price is $266.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 2.66. The stock has a market cap of $23.60 billion, a PE ratio of 134.54 and a beta of 0.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The biotechnology company reported $1.15 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $441.57 million. During the same period last year, the firm earned $0.51 EPS. Axon Enterprise's revenue for the quarter was up 34.3% on a year-over-year basis. On average, research analysts expect that Axon Enterprise, Inc. will post 2.44 earnings per share for the current year.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of AXON. Sei Investments Co. lifted its stake in Axon Enterprise by 24.4% in the 1st quarter. Sei Investments Co. now owns 117,938 shares of the biotechnology company's stock worth $36,901,000 after purchasing an additional 23,148 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Axon Enterprise during the first quarter worth about $216,000. Lisanti Capital Growth LLC increased its position in shares of Axon Enterprise by 10.1% in the first quarter. Lisanti Capital Growth LLC now owns 5,050 shares of the biotechnology company's stock worth $1,580,000 after purchasing an additional 465 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Axon Enterprise by 5.1% in the first quarter. Oppenheimer & Co. Inc. now owns 3,802 shares of the biotechnology company's stock valued at $1,190,000 after purchasing an additional 183 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Axon Enterprise during the first quarter valued at approximately $340,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

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.