Axon Enterprise (NASDAQ:AXON) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Axon Enterprise (NASDAQ:AXON) had its price target boosted by Needham & Company LLC from $525.00 to $600.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

AXON has been the topic of a number of other reports. Craig Hallum lifted their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JMP Securities lifted their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upped their target price on shares of Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $412.42.

Axon Enterprise Trading Up 28.7 %

Shares of NASDAQ AXON traded up $134.43 during trading hours on Friday, reaching $603.18. The stock had a trading volume of 3,966,980 shares, compared to its average volume of 538,452. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average price is $414.16 and its two-hundred day moving average price is $346.96. Axon Enterprise has a 52-week low of $212.88 and a 52-week high of $611.88. The firm has a market cap of $45.58 billion, a price-to-earnings ratio of 159.15, a P/E/G ratio of 11.70 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. During the same quarter last year, the firm earned $0.80 EPS. The business’s revenue was up 34.5% compared to the same quarter last year. Analysts expect that Axon Enterprise will post 1.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Brittany Bagley sold 4,338 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $378.95, for a total value of $1,643,885.10. Following the completion of the sale, the chief financial officer now owns 98,825 shares of the company’s stock, valued at $37,449,733.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Axon Enterprise news, CFO Brittany Bagley sold 4,338 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $378.95, for a total transaction of $1,643,885.10. Following the completion of the sale, the chief financial officer now directly owns 98,825 shares in the company, valued at approximately $37,449,733.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 369,172 shares of company stock valued at $136,270,842. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 79 shares during the last quarter. Quent Capital LLC increased its stake in shares of Axon Enterprise by 1,875.0% in the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 75 shares during the period. Asset Dedication LLC acquired a new stake in shares of Axon Enterprise in the second quarter valued at approximately $47,000. Planning Capital Management Corp boosted its holdings in shares of Axon Enterprise by 83.3% in the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 55 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in Axon Enterprise during the third quarter worth approximately $51,000. 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.