Axon Enterprise (NASDAQ:AXON) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Axon Enterprise (NASDAQ:AXON) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $730.00 to $830.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 13.95% from the company’s current price.

Several other equities research analysts have also commented on AXON. Northcoast Research lowered Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 19th. Barclays increased their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. JMP Securities reissued an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. Finally, Needham & Company LLC increased their price objective on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $652.73.

Axon Enterprise Trading Down 0.0%

NASDAQ AXON opened at $728.39 on Wednesday. The business’s 50-day moving average price is $580.48 and its two-hundred day moving average price is $591.44. Axon Enterprise has a 12 month low of $273.52 and a 12 month high of $732.22. The firm has a market capitalization of $56.71 billion, a PE ratio of 188.21, a price-to-earnings-growth ratio of 5.17 and a beta of 1.24. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, analysts expect that Axon Enterprise will post 5.8 EPS for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Matthew R. Mcbrady sold 400 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $718.40, for a total value of $287,360.00. Following the completion of the sale, the director now directly owns 3,492 shares of the company’s stock, valued at $2,508,652.80. This trade represents a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brittany Bagley sold 3,400 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $700.00, for a total value of $2,380,000.00. Following the completion of the sale, the chief financial officer now directly owns 131,833 shares of the company’s stock, valued at $92,283,100. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,764 shares of company stock valued at $14,856,635. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds have recently made changes to their positions in AXON. Czech National Bank grew its position in shares of Axon Enterprise by 7.4% in the fourth quarter. Czech National Bank now owns 15,707 shares of the biotechnology company’s stock valued at $9,335,000 after purchasing an additional 1,082 shares in the last quarter. Brookstone Capital Management grew its position in shares of Axon Enterprise by 27.0% in the fourth quarter. Brookstone Capital Management now owns 974 shares of the biotechnology company’s stock valued at $579,000 after purchasing an additional 207 shares in the last quarter. 180 Wealth Advisors LLC purchased a new position in shares of Axon Enterprise in the fourth quarter valued at $220,000. Mayfair Advisory Group LLC purchased a new position in shares of Axon Enterprise in the fourth quarter valued at $247,000. Finally, SeaCrest Wealth Management LLC grew its position in shares of Axon Enterprise by 24.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,395 shares of the biotechnology company’s stock valued at $829,000 after purchasing an additional 273 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

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.