Axon Enterprise (NASDAQ:AXON) Trading 7.7% Higher – Should You Buy?

Axon Enterprise, Inc (NASDAQ:AXON) shares traded up 7.7% during trading on Monday . The stock traded as high as $569.60 and last traded at $568.1680. 72,477 shares traded hands during trading, a decline of 93% from the average daily volume of 1,061,518 shares. The stock had previously closed at $527.76.

Analyst Ratings Changes

AXON has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a report on Thursday, May 7th. TD Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. Finally, Piper Sandler upped their price target on Axon Enterprise from $674.00 to $724.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $725.25.

Axon Enterprise Trading Up 6.9%

The stock has a market cap of $45.48 billion, a price-to-earnings ratio of 226.39, a P/E/G ratio of 10.77 and a beta of 1.39. The business has a 50-day simple moving average of $497.09 and a two-hundred day simple moving average of $475.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. During the same period in the previous year, the business earned $1.47 EPS. The company’s revenue was up 33.7% compared to the same quarter last year. As a group, research analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current year.

Insider Activity

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider owned 34,024 shares in the company, valued at $16,501,640. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently modified their holdings of the stock. Darwin Wealth Management LLC bought a new stake in shares of Axon Enterprise during the 2nd quarter worth about $37,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Axon Enterprise during the fourth quarter worth approximately $28,000. Sound Income Strategies LLC boosted its holdings in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 44 shares during the period. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $30,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $34,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

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.