Axon Enterprise (NASDAQ:AXON) Trading Up 2.5% Following Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) shares were up 2.5% during mid-day trading on Wednesday after Needham & Company LLC raised their price target on the stock from $315.00 to $400.00. Needham & Company LLC currently has a buy rating on the stock. Axon Enterprise traded as high as $320.00 and last traded at $319.13. Approximately 143,084 shares changed hands during trading, a decline of 69% from the average daily volume of 456,035 shares. The stock had previously closed at $311.27.

Several other brokerages have also recently weighed in on AXON. The Goldman Sachs Group upped their target price on Axon Enterprise from $297.00 to $339.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Robert W. Baird upped their target price on Axon Enterprise from $260.00 to $300.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. Barclays upped their target price on Axon Enterprise from $296.00 to $308.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. JMP Securities upped their target price on Axon Enterprise from $250.00 to $285.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 6th. Finally, TheStreet cut Axon Enterprise from a "b" rating to a "c+" rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and an average target price of $309.45.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in Axon Enterprise during the 4th quarter valued at about $26,000. BKM Wealth Management LLC acquired a new position in Axon Enterprise during the 4th quarter valued at about $32,000. Hollencrest Capital Management acquired a new position in Axon Enterprise during the 1st quarter valued at about $29,000. Rise Advisors LLC increased its position in Axon Enterprise by 49.0% during the 1st quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company's stock valued at $45,000 after buying an additional 47 shares in the last quarter. Finally, Key Financial Inc increased its position 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 owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 2.2 %

The company has a 50-day moving average of $294.92 and a 200-day moving average of $253.06. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of 138.37 and a beta of 0.93. 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 announced its 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 return on equity of 14.11% and a net margin of 11.14%. On average, equities 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.