Axon Enterprise, Inc (NASDAQ:AXON) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have been given an average recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $762.9333.

A number of brokerages recently weighed in on AXON. Needham & Company LLC reduced their price objective on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Barclays dropped their price target on Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Craig Hallum restated a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a report on Tuesday, January 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $423.57 on Thursday. The firm’s fifty day moving average is $489.98 and its 200 day moving average is $583.94. The company has a quick ratio of 2.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The company has a market cap of $34.05 billion, a price-to-earnings ratio of 278.67, a PEG ratio of 9.06 and a beta of 1.46. Axon Enterprise has a 52-week low of $396.41 and a 52-week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The firm had revenue of $796.72 million during the quarter, compared to analyst estimates of $755.29 million. During the same quarter last year, the business earned $2.08 EPS. The business’s revenue was up 38.5% on a year-over-year basis. Sell-side analysts forecast that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $500.24, for a total transaction of $5,002,400.00. Following the completion of the sale, the chief executive officer owned 3,090,997 shares of the company’s stock, valued at $1,546,240,339.28. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erika Nardini sold 198 shares of Axon Enterprise stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total transaction of $100,302.84. Following the completion of the transaction, the director directly owned 1,946 shares in the company, valued at $985,804.68. This represents a 9.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 23,855 shares of company stock worth $13,299,928. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Large investors have recently modified their holdings of the business. Brighton Jones LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $480,000. NewEdge Advisors LLC increased its position in shares of Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after acquiring an additional 668 shares during the period. Empowered Funds LLC increased its position in shares of Axon Enterprise by 8.4% in the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after acquiring an additional 157 shares during the period. Woodline Partners LP raised its stake in Axon Enterprise by 40.6% in the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after acquiring an additional 2,003 shares during the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise in the 2nd quarter worth $284,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.