Axon Enterprise (NASDAQ:AXON) Coverage Initiated at Royal Bank Of Canada

Equities research analysts at Royal Bank Of Canada assumed coverage on shares of Axon Enterprise (NASDAQ:AXON) in a research report issued on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $860.00 price target on the biotechnology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 61.12% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. UBS Group dropped their price objective on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $870.00 price target on shares of Axon Enterprise in a report on Wednesday, September 24th. Craig Hallum upgraded Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price objective for the company in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Thursday, November 13th. Finally, Cowen reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $814.00.

Axon Enterprise Stock Performance

Shares of AXON opened at $533.77 on Monday. The stock has a market capitalization of $42.12 billion, a PE ratio of 131.80, a price-to-earnings-growth ratio of 29.49 and a beta of 1.45. The business’s fifty day moving average price is $694.97 and its 200 day moving average price is $734.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71. Axon Enterprise has a 12-month low of $469.24 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same period last year, the company posted $1.45 earnings per share. The firm’s revenue for the quarter was up 30.6% on a year-over-year basis. Equities research analysts forecast that Axon Enterprise will post 5.8 EPS for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, CAO Jennifer H. Mak sold 77 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $760.00, for a total transaction of $58,520.00. Following the completion of the transaction, the chief accounting officer owned 15,003 shares in the company, valued at approximately $11,402,280. The trade was a 0.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeri Williams sold 100 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $752.54, for a total value of $75,254.00. Following the completion of the transaction, the director directly owned 1,416 shares of the company’s stock, valued at approximately $1,065,596.64. The trade was a 6.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,622 shares of company stock worth $26,439,364 over the last 90 days. Insiders own 4.40% of the company’s stock.

Institutional Trading of Axon Enterprise

Institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. raised its stake in shares of Axon Enterprise by 4.8% in the 2nd quarter. Westside Investment Management Inc. now owns 283 shares of the biotechnology company’s stock valued at $225,000 after acquiring an additional 13 shares in the last quarter. CVA Family Office LLC grew its holdings in Axon Enterprise by 26.9% during the second quarter. CVA Family Office LLC now owns 66 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 14 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Axon Enterprise by 2.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock valued at $421,000 after purchasing an additional 14 shares during the period. Vicus Capital lifted its stake in shares of Axon Enterprise by 3.7% in the third quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock worth $284,000 after buying an additional 14 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Axon Enterprise by 3.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after buying an additional 15 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

About Axon Enterprise

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.