Axon Enterprise (NASDAQ:AXON) Given Neutral Rating at 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 analysts at UBS Group in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They currently have a $840.00 price target on the biotechnology company's stock, up from their previous price target of $820.00. UBS Group's target price suggests a potential downside of 0.30% from the stock's current price.

A number of other brokerages have also weighed in on AXON. Barclays upped their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Needham & Company LLC set a $870.00 price target on shares of Axon Enterprise and gave the stock a "buy" rating in a research report on Tuesday. JMP Securities boosted 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. Finally, The Goldman Sachs Group upped their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Two 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $837.69.

Axon Enterprise Trading Down 3.3%

AXON stock traded down $28.47 during trading on Tuesday, hitting $842.50. The company had a trading volume of 667,201 shares, compared to its average volume of 731,927. The company has a quick ratio of 2.62, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $774.27 and a 200-day moving average price of $664.69. Axon Enterprise has a 12 month low of $346.71 and a 12 month high of $885.91. The stock has a market cap 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 (NASDAQ:AXON - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $2.12 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 firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same quarter in the previous year, the business earned $1.20 EPS. The business's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, analysts predict that Axon Enterprise will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of Axon Enterprise stock in a transaction on Monday, May 19th. The shares were 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 $3,567,858.36. This trade represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Joshua Isner sold 9,905 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $738.03, for a total value of $7,310,187.15. Following the transaction, the president directly owned 298,809 shares in the company, valued at $220,530,006.27. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,642 shares of company stock valued at $25,090,528 over the last three months. 4.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Axon Enterprise

Several hedge funds have recently added to or reduced their stakes in AXON. TCTC Holdings LLC raised its position 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 purchasing an additional 24 shares during the period. Fourth Dimension Wealth LLC bought a new stake in Axon Enterprise during the 4th quarter worth approximately $30,000. Bartlett & CO. Wealth Management LLC grew its stake in Axon Enterprise by 132.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company's stock worth $31,000 after buying an additional 33 shares in the last quarter. Banque Transatlantique SA purchased a new position in Axon Enterprise in the 1st quarter worth approximately $31,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Axon Enterprise in the 1st quarter valued at $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.