Axon Enterprise (NASDAQ:AXON) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research note issued to investors on Wednesday, Benzinga reports. Needham & Company LLC currently has a $400.00 target price on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on AXON. Morgan Stanley raised their price target on Axon Enterprise from $250.00 to $285.00 and gave the stock an equal weight rating in a research note on Wednesday, February 28th. JMP Securities raised their price target on Axon Enterprise from $250.00 to $285.00 and gave the stock a market outperform rating in a research note on Tuesday, February 6th. StockNews.com lowered Axon Enterprise from a buy rating to a hold rating in a research note on Thursday, March 14th. Barclays raised their price target on Axon Enterprise from $296.00 to $308.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Finally, Robert W. Baird raised their price target on Axon Enterprise from $260.00 to $300.00 and gave the stock an outperform rating in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $312.64.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $302.41 on Wednesday. The stock has a 50 day moving average of $302.15 and a 200 day moving average of $260.29. Axon Enterprise has a 12 month low of $175.37 and a 12 month high of $329.87. The firm has a market cap of $22.82 billion, a PE ratio of 131.48 and a beta of 0.93. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.29. The company had revenue of $432.14 million during the quarter, compared to analyst estimates of $418.97 million. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. On average, research analysts expect that Axon Enterprise will post 2.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new position in shares of Axon Enterprise in the 4th quarter valued at $26,000. Trivant Custom Portfolio Group LLC purchased a new position in Axon Enterprise during the 1st quarter worth $31,000. BKM Wealth Management LLC purchased a new position in Axon Enterprise during the 4th quarter worth $32,000. First PREMIER Bank purchased a new position in Axon Enterprise during the 1st quarter worth $33,000. Finally, Key Financial Inc grew its stake in Axon Enterprise by 367.6% during the 4th quarter. Key Financial Inc now owns 159 shares of the biotechnology company’s stock worth $41,000 after buying an additional 125 shares during the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

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.