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

Axon Enterprise (NASDAQ:AXON) had its target price decreased by investment analysts at Piper Sandler from $732.00 to $561.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price would suggest a potential upside of 44.43% from the company’s current price.

AXON has been the topic of a number of other reports. Argus boosted their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Raymond James Financial set a $675.00 price target on shares of Axon Enterprise in a research note on Thursday. Zacks Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Morgan Stanley lifted their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $707.07.

Axon Enterprise Trading Up 1.4%

NASDAQ AXON opened at $388.41 on Tuesday. The business’s fifty day moving average is $497.33 and its 200-day moving average is $474.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The stock has a market capitalization of $31.55 billion, a price-to-earnings ratio of 160.39, a PEG ratio of 7.34 and a beta of 1.44. Axon Enterprise has a one year low of $339.01 and a one year high of $764.02.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the prior year, the business earned $2.12 earnings per share. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities research analysts predict that Axon Enterprise will post 2.12 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of the company’s stock in a transaction that occurred 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 sale, the president directly owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the sale, the insider owned 56,264 shares in the company, valued at $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 47,397 shares of company stock worth $26,722,984. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Axon Enterprise by 5,700.2% during the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after purchasing an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Axon Enterprise by 18,050.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Axon Enterprise by 8,432.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after purchasing an additional 3,496,493 shares during the period. Finally, Nykredit A S purchased a new position in Axon Enterprise during the 2nd quarter valued at about $698,937,000. Institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.