Needham & Company LLC Reiterates "$870.00" Price Target for Axon Enterprise (NASDAQ:AXON)

Key Points

• Needham & Company LLC raised the target price for Axon Enterprise (NASDAQ:AXON) from $820.00 to $870.00, indicating a potential upside of 16.80%.
• Axon Enterprise's stock has received multiple upgrades from other analysts, with a consensus target price of $805.00, and a rating of "Moderate Buy".
• The company reported a 32.6% increase in quarterly revenue year-over-year, with earnings per share of $2.12, surpassing estimates by $0.58.

Axon Enterprise (NASDAQ:AXON - Get Free Report) received a $870.00 target price from stock analysts at Needham & Company LLC in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's price target would suggest a potential upside of 3.26% from the company's previous close.

Other analysts have also issued reports about the stock. JMP Securities increased their price target on shares of Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 22nd. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target for the company in a research report on Tuesday. Wolfe Research started coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. boosted their price target on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Barclays boosted their price target on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Stock Down 3.3%

Shares of NASDAQ AXON traded down $28.47 during mid-day trading on Tuesday, reaching $842.50. The company had a trading volume of 667,201 shares, compared to its average volume of 731,927. The stock has a fifty day moving average of $774.27 and a two-hundred day moving average of $664.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.62 and a current ratio of 2.95. The company has a market capitalization of $66.14 billion, a price-to-earnings ratio of 208.02, a PEG ratio of 96.51 and a beta of 1.36. Axon Enterprise has a 12-month low of $346.71 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm's revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. As a group, equities research analysts expect that Axon Enterprise will post 5.8 EPS for the current year.

Insider Activity

In other news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $738.84, for a total value of $960,492.00. Following the sale, the director directly owned 4,829 shares in the company, valued at approximately $3,567,858.36. This trade represents a 21.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the completion of the sale, the chief financial officer owned 131,833 shares in the company, valued at approximately $92,283,100. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,642 shares of company stock worth $25,090,528. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AXON. TCTC Holdings LLC increased its stake in shares of Axon Enterprise by 75.0% in the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock valued at $29,000 after buying an additional 24 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC increased its stake in shares of Axon Enterprise by 132.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock valued at $31,000 after buying an additional 33 shares during the period. Banque Transatlantique SA acquired a new position in shares of Axon Enterprise in the first quarter valued at approximately $31,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Axon Enterprise in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 79.08% of the company's stock.

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.