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 reissued by analysts at Raymond James Financial in a report issued on Tuesday, Marketbeat reports. They currently 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 points to a potential downside of 0.88% from the stock's current price.

A number of other equities analysts have also recently commented on the company. Bank of America increased their target price on Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. The Goldman Sachs Group increased their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. JMP Securities increased their price target on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 22nd. UBS Group restated a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $837.69.

Axon Enterprise Stock Down 0.1%

Shares of NASDAQ:AXON traded down $1.02 during mid-day trading on Tuesday, hitting $862.63. 282,672 shares of the company traded hands, compared to its average volume of 707,132. The stock has a market cap of $67.16 billion, a P/E ratio of 213.00, a P/E/G ratio of 96.66 and a beta of 1.36. Axon Enterprise has a 12-month low of $344.00 and a 12-month high of $885.91. The company has a current ratio of 2.95, a quick ratio of 2.62 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $769.48 and a two-hundred day moving average price of $661.14.

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 analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The company had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. During the same period in the prior year, the firm earned $1.20 earnings per share. Axon Enterprise's revenue was up 32.6% on a year-over-year basis. On average, equities research analysts forecast that Axon Enterprise will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 5,913 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the sale, the director directly owned 17,740 shares in the company, valued at approximately $13,482,400. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Joshua Isner sold 9,905 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total value of $7,310,187.15. Following the sale, the president owned 298,809 shares in the company, valued at approximately $220,530,006.27. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,642 shares of company stock valued at $25,090,528 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Summit Asset Management LLC purchased a new stake in Axon Enterprise in the second quarter worth $209,000. Midwest Trust Co bought a new stake in Axon Enterprise during the second quarter valued at about $443,000. Prescott Group Capital Management L.L.C. raised its position in Axon Enterprise by 37.4% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 823 shares of the biotechnology company's stock worth $681,000 after purchasing an additional 224 shares during the period. Acadian Asset Management LLC boosted its position in Axon Enterprise by 1.5% during the 2nd quarter. Acadian Asset Management LLC now owns 34,716 shares of the biotechnology company's stock valued at $28,734,000 after acquiring an additional 519 shares in the last quarter. Finally, CSM Advisors LLC acquired a new stake in shares of Axon Enterprise during the second quarter worth $226,000. 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.