Axon Enterprise, Inc (NASDAQ:AXON) Receives $730.92 Average Price Target from Analysts

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $730.9231.

Several brokerages have weighed in on AXON. TD Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research note on Thursday, August 6th. The Goldman Sachs Group restated a “buy” rating and issued a $715.00 price objective on shares of Axon Enterprise in a report on Thursday, August 6th. Morgan Stanley increased their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Zacks Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 20,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the sale, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. The trade was a 0.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the transaction, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. The trade was a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 76,594 shares of company stock valued at $41,236,386. Corporate insiders own 4.20% of the company’s stock.

Institutional Trading of Axon Enterprise

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV acquired a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $28,000. Camelot Portfolios LLC acquired a new position in shares of Axon Enterprise in the fourth quarter worth $30,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Axon Enterprise during the second quarter worth $31,000. AlphaCentric Advisors LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at $34,000. Finally, Darwin Wealth Management LLC purchased a new position in Axon Enterprise in the second quarter valued at $37,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $613.26 on Friday. Axon Enterprise has a 52 week low of $339.01 and a 52 week high of $794.29. The business’s fifty day simple moving average is $549.76 and its 200-day simple moving average is $479.31. The firm has a market cap of $49.82 billion, a PE ratio of 254.47, a price-to-earnings-growth ratio of 9.70 and a beta of 1.39. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last released its quarterly 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 analysts’ expectations of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company’s revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.12 EPS. Equities analysts forecast that Axon Enterprise will post 2.04 earnings per share for the current year.

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.