Axon Enterprise (NASDAQ:AXON) Earns "Neutral" Rating from UBS Group

Key Points

• UBS Group has increased the price target for Axon Enterprise from $820.00 to $840.00, indicating a potential upside of 12.77% from its previous close.
• Multiple analysts have raised their ratings on Axon Enterprise, with Craig Hallum upgrading to "buy" and setting a target price of $900.00, while Needham & Company increased theirs to $870.00.
• Axon Enterprise reported quarterly earnings of $2.12 per share, exceeding estimates and reflecting a 32.6% increase in revenue compared to the previous year.

Axon Enterprise (NASDAQ:AXON - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at UBS Group in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $840.00 price objective on the biotechnology company's stock, up from their prior price objective of $820.00. UBS Group's price objective would indicate a potential downside of 2.74% from the stock's previous close.

A number of other research firms also recently commented on AXON. Wolfe Research assumed coverage on Axon Enterprise in a research note on Monday, July 7th. They issued an "outperform" rating for the company. Needham & Company LLC set a $870.00 target price on shares of Axon Enterprise and gave the stock a "buy" rating in a report on Tuesday. Barclays upped their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. JMP Securities upped 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. Finally, 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 research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $863.65 on Tuesday. Axon Enterprise has a one year low of $323.89 and a one year high of $885.91. The stock has a market cap of $67.24 billion, a PE ratio of 213.25, a price-to-earnings-growth ratio of 96.66 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.62. The stock has a 50-day moving average of $769.48 and a 200-day moving average of $661.14.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm 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 business earned $1.20 EPS. The company's revenue was up 32.6% compared to the same quarter last year. As a group, sell-side analysts expect that Axon Enterprise will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Jennifer H. Mak sold 75 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the sale, the chief accounting officer directly owned 15,240 shares of the company's stock, valued at $11,762,384.40. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Joshua Isner sold 905 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $776.39, for a total transaction of $702,632.95. Following the completion of the sale, the president owned 268,735 shares of the company's stock, valued at approximately $208,643,166.65. This trade represents a 0.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,642 shares of company stock worth $25,090,528 over the last ninety days. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Axon Enterprise

Several large investors have recently added to or reduced their stakes in the business. Hemington Wealth Management raised its position in Axon Enterprise by 70.8% during the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 17 shares during the last quarter. Whipplewood Advisors LLC boosted its stake in Axon Enterprise by 192.9% during the second quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company's stock worth $34,000 after acquiring an additional 27 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Axon Enterprise during the fourth quarter valued at $30,000. NewSquare Capital LLC boosted its holdings in Axon Enterprise by 96.2% in the second quarter. NewSquare Capital LLC now owns 51 shares of the biotechnology company's stock worth $42,000 after acquiring an additional 25 shares in the last quarter. Finally, Washington Trust Advisors Inc. grew its stake in shares of Axon Enterprise by 44.7% in the second quarter. Washington Trust Advisors Inc. now owns 55 shares of the biotechnology company's stock worth $46,000 after acquiring an additional 17 shares during the last quarter. Institutional investors 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.