Axon Enterprise’s (AXON) Market Outperform Rating Reiterated at JMP Securities

Axon Enterprise (NASDAQ:AXON)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $375.00 price target on the biotechnology company’s stock. JMP Securities’ price target points to a potential upside of 19.62% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Argus initiated coverage on Axon Enterprise in a research report on Wednesday, March 13th. They set a “buy” rating and a $380.00 price objective on the stock. TheStreet downgraded Axon Enterprise from a “b” rating to a “c+” rating in a research report on Tuesday, February 27th. Morgan Stanley increased their price target on Axon Enterprise from $285.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Barclays raised their price objective on Axon Enterprise from $296.00 to $308.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Axon Enterprise in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $323.09.

Axon Enterprise Price Performance

NASDAQ:AXON traded down $14.14 during mid-day trading on Tuesday, reaching $313.50. 407,761 shares of the stock were exchanged, compared to its average volume of 470,343. The business has a fifty day moving average price of $309.95 and a 200 day moving average price of $266.41. The firm has a market capitalization of $23.66 billion, a PE ratio of 136.88 and a beta of 0.91. Axon Enterprise has a 1-year low of $175.37 and a 1-year high of $329.87. 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 released its quarterly earnings results on Monday, May 6th. The biotechnology company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. The business had revenue of $460.74 million during the quarter, compared to analyst estimates of $441.57 million. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. Axon Enterprise’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. Research analysts expect that Axon Enterprise will post 2.44 earnings per share for the current fiscal year.

Institutional Trading of Axon Enterprise

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new stake in Axon Enterprise in the fourth quarter worth $26,000. Trivant Custom Portfolio Group LLC purchased a new position in Axon Enterprise in the first quarter worth about $31,000. BKM Wealth Management LLC purchased a new position in Axon Enterprise in the 4th quarter worth approximately $32,000. First PREMIER Bank bought a new position in Axon Enterprise in the 1st quarter valued at approximately $33,000. Finally, Key Financial Inc boosted 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 valued at $41,000 after purchasing an additional 125 shares during the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.