Axon Enterprise (NASDAQ:AXON) Shares Up 6.5% – Still a Buy?

Axon Enterprise, Inc (NASDAQ:AXON) shares shot up 6.5% during trading on Tuesday . The stock traded as high as $635.33 and last traded at $635.2620. Approximately 612,121 shares traded hands during trading, a decline of 43% from the average daily volume of 1,077,021 shares. The stock had previously closed at $596.33.

Wall Street Analyst Weigh In

AXON has been the subject of several recent research reports. Zacks Research cut Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Piper Sandler upped their target price on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, July 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research report on Thursday, June 25th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $730.92.

Axon Enterprise Trading Down 5.7%

The firm has a 50-day moving average of $521.48 and a 200 day moving average of $473.41. The company has a market cap of $48.73 billion, a P/E ratio of 248.87, a price-to-earnings-growth ratio of 12.98 and a beta of 1.39. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. On average, analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, CEO Patrick W. Smith sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the transaction, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,989 shares of company stock worth $36,016,932 over the last ninety days. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise in the 2nd quarter worth $37,000. Creative Financial Designs Inc. ADV acquired a new position in Axon Enterprise during the fourth quarter worth $28,000. Camelot Portfolios LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at $30,000. Keating Financial Advisory Services Inc. bought a new position in shares of Axon Enterprise in the second quarter valued at $31,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at about $34,000. Institutional investors own 79.08% of the company’s stock.

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.