Axon Enterprise (NASDAQ:AXON) Upgraded at Northcoast Research

Northcoast Research upgraded shares of Axon Enterprise (NASDAQ:AXON) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $742.00 price objective on the biotechnology company’s stock.

A number of other analysts have also weighed in on AXON. Barclays reduced their price target on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. The Goldman Sachs Group reduced their price objective on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Morgan Stanley reduced their price objective on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Royal Bank Of Canada assumed coverage on shares of Axon Enterprise in a research note on Monday, November 17th. They set an “outperform” rating and a $860.00 price target on the stock. Finally, Wall Street Zen cut Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $805.71.

Axon Enterprise Stock Down 1.3%

NASDAQ:AXON opened at $612.98 on Tuesday. The company has a market capitalization of $48.37 billion, a price-to-earnings ratio of 193.98, a price-to-earnings-growth ratio of 19.55 and a beta of 1.41. Axon Enterprise has a one year low of $469.24 and a one year high of $885.91. The stock has a 50-day simple moving average of $574.87 and a 200 day simple moving average of $689.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.46). The firm had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The company’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 EPS. Sell-side analysts predict that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insider Activity

In related news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the completion of the transaction, the president owned 249,502 shares in the company, valued at approximately $137,874,805.20. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer H. Mak sold 1,134 shares of Axon Enterprise stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the sale, the chief accounting officer directly owned 13,740 shares of the company’s stock, valued at $8,244,000. The trade was a 7.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 60,540 shares of company stock valued at $34,684,738. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently modified their holdings of the business. Brighton Jones LLC bought a new stake in Axon Enterprise during the 4th quarter worth $480,000. NewEdge Advisors LLC raised its position in shares of Axon Enterprise by 41.1% during the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares during the period. UniSuper Management Pty Ltd increased its position in shares of Axon Enterprise by 9.8% during the first quarter. UniSuper Management Pty Ltd now owns 6,453 shares of the biotechnology company’s stock worth $3,394,000 after acquiring an additional 577 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Axon Enterprise in the first quarter worth approximately $280,000. Finally, Fred Alger Management LLC lifted its stake in Axon Enterprise by 18.1% during the 1st quarter. Fred Alger Management LLC now owns 35,224 shares of the biotechnology company’s stock valued at $18,526,000 after acquiring an additional 5,388 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.