Barclays Has Lowered Expectations for Axon Enterprise (NASDAQ:AXON) Stock Price

Axon Enterprise (NASDAQ:AXON) had its price objective decreased by Barclays from $688.00 to $507.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price target would suggest a potential upside of 61.27% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Craig Hallum downgraded Axon Enterprise from a “buy” rating to a “hold” rating and set a $390.00 price target for the company. in a research note on Friday. Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 3rd. Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a research note on Thursday, October 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a report on Tuesday, November 3rd. Finally, Northcoast Research boosted their target price on shares of Axon Enterprise from $650.00 to $680.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $612.18.

Axon Enterprise Price Performance

NASDAQ AXON traded up $1.37 during midday trading on Monday, hitting $314.37. The company had a trading volume of 493,219 shares, compared to its average volume of 1,070,063. The company has a market capitalization of $25.54 billion, a PE ratio of 100.80, a P/E/G ratio of 5.95 and a beta of 1.48. The company has a current ratio of 3.00, a quick ratio of 2.60 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $441.53 and a 200-day moving average price of $475.20. Axon Enterprise has a twelve month low of $303.91 and a twelve month high of $665.07.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). The company had revenue of $908.55 million for the quarter, compared to the consensus estimate of $934.33 million. Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. As a group, analysts anticipate that Axon Enterprise will post 2.10 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 16,775 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the transaction, the president directly owned 296,974 shares of the company’s stock, valued at $170,590,774.82. The trade was a 5.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,397 shares of company stock valued at $21,234,034 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AXON. Bellwether Advisors LLC acquired a new position in shares of Axon Enterprise in the third quarter worth approximately $2,449,000. Wellington Grp LLC raised its holdings in Axon Enterprise by 79.4% during the 3rd quarter. Wellington Grp LLC now owns 2,532 shares of the biotechnology company’s stock worth $1,070,000 after purchasing an additional 1,121 shares during the last quarter. Addison Advisors LLC raised its holdings in Axon Enterprise by 160,200.0% during the 3rd quarter. Addison Advisors LLC now owns 1,603 shares of the biotechnology company’s stock worth $677,000 after purchasing an additional 1,602 shares during the last quarter. Diversified Trust Co lifted its position in shares of Axon Enterprise by 470.3% in the 3rd quarter. Diversified Trust Co now owns 79,246 shares of the biotechnology company’s stock worth $33,483,000 after purchasing an additional 65,351 shares during the period. Finally, Aberdeen Group plc lifted its position in shares of Axon Enterprise by 429.4% in the 3rd quarter. Aberdeen Group plc now owns 281,029 shares of the biotechnology company’s stock worth $122,674,000 after purchasing an additional 227,949 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals.

The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

Founded in 1993 as TASER International, the company adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into connected devices and software.