Axon Enterprise (NASDAQ:AXON) Receives Outperform Rating from Raymond James Financial

Key Points

• Raymond James Financial has raised its price target for Axon Enterprise (NASDAQ:AXON) from $645.00 to $855.00, maintaining an "outperform" rating, indicating a potential upside of 0.35% from the stock's previous close.
• Axon Enterprise's stock recently traded up by 14.4% to $852.01, with a market capitalization of $66.33 billion and a P/E ratio of 205.80.
• For the last quarter, Axon reported $668.54 million in revenue, exceeding expectations, and an earnings per share (EPS) of $2.12, surpassing analysts' estimates by $0.58.

Axon Enterprise (NASDAQ:AXON - Get Free Report)'s stock had its "outperform" rating restated by Raymond James Financial in a note issued to investors on Tuesday, MarketBeat reports. They presently have a $855.00 price objective on the biotechnology company's stock, up from their prior price objective of $645.00. Raymond James Financial's price objective would indicate a potential upside of 1.48% from the stock's current price.

Several other research firms have also issued reports on AXON. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Needham & Company LLC set a $870.00 price objective on shares of Axon Enterprise and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the company an "overweight" rating in a report on Friday, July 11th. Craig Hallum raised shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price objective on the stock in a report on Tuesday. Finally, UBS Group reissued a "neutral" rating and set a $840.00 price objective (up from $820.00) on shares of Axon Enterprise in a report on Tuesday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Stock Down 3.3%

NASDAQ:AXON traded down $28.47 during trading hours on Tuesday, reaching $842.50. The company's stock had a trading volume of 667,201 shares, compared to its average volume of 731,927. The company has a market capitalization of $66.14 billion, a P/E ratio of 208.02, a price-to-earnings-growth ratio of 93.35 and a beta of 1.36. Axon Enterprise has a 12 month low of $346.71 and a 12 month high of $885.91. 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 stock has a 50 day moving average price of $774.27 and a two-hundred day moving average price of $665.08.

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

Insiders Place Their Bets

In other Axon Enterprise news, CFO Brittany Bagley sold 3,400 shares of the company'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 in the company, valued at approximately $92,283,100. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $738.84, for a total transaction of $960,492.00. Following the completion of the transaction, the director owned 4,829 shares of the company's stock, valued at approximately $3,567,858.36. This trade represents a 21.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,642 shares of company stock valued at $25,090,528. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXON. TCTC Holdings LLC raised its position in shares of Axon Enterprise by 75.0% during the 1st 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 last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Axon Enterprise in the 4th quarter valued at approximately $30,000. Bartlett & CO. Wealth Management LLC grew its stake in shares of Axon Enterprise by 132.0% in the 1st 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 purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $31,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Axon Enterprise during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds 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.