Axon Enterprise (NASDAQ:AXON) Given a $870.00 Price Target by Needham & Company LLC Analysts

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 Needham & Company LLC in a report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's target price would indicate a potential upside of 0.33% from the company's previous close.

Several other analysts also recently commented on AXON. JMP Securities raised their price objective on Axon Enterprise from $725.00 to $825.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 22nd. Morgan Stanley set a $885.00 price objective on Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. Bank of America increased their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wolfe Research began coverage on Axon Enterprise in a report on Monday, July 7th. They set an "outperform" rating for the company. Finally, Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $829.62.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $867.12 on Tuesday. The company has a market capitalization of $67.51 billion, a PE ratio of 214.10, a PEG ratio of 83.03 and a beta of 1.36. Axon Enterprise has a 12 month low of $286.19 and a 12 month high of $885.92. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $767.23 and its 200 day simple moving average is $659.73.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.54 by $0.58. The business had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a return on equity of 7.10% and a net margin of 13.64%. The firm's revenue was up 32.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. On average, research analysts predict that Axon Enterprise will post 5.8 EPS for the current year.

Insider Buying and Selling

In other news, Director Michael Garnreiter sold 5,913 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total value of $4,493,880.00. Following the completion of the transaction, the director owned 17,740 shares in the company, valued at $13,482,400. This trade represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brittany Bagley sold 3,400 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total value of $2,380,000.00. Following the completion of the transaction, the chief financial officer owned 131,833 shares of the company's stock, valued at $92,283,100. The trade was a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,642 shares of company stock worth $25,090,528 over the last three months. Company insiders own 5.70% of the company's stock.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds have recently modified their holdings of the stock. TCTC Holdings LLC grew its holdings in Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 24 shares during the period. Fourth Dimension Wealth LLC bought a new position in Axon Enterprise during the fourth quarter worth about $30,000. Bartlett & CO. Wealth Management LLC grew its holdings in Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 33 shares during the period. Banque Transatlantique SA bought a new position in Axon Enterprise during the first quarter worth about $31,000. Finally, Catalyst Capital Advisors LLC bought a new position in Axon Enterprise during the first quarter worth about $32,000. Institutional investors 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.