Axon Enterprise (NASDAQ:AXON) Given “Market Outperform” Rating at Citizens Jmp

Axon Enterprise (NASDAQ:AXON)‘s stock had its “market outperform” rating reiterated by investment analysts at Citizens Jmp in a report released on Thursday,Benzinga reports. They presently have a $700.00 target price on the biotechnology company’s stock. Citizens Jmp’s target price points to a potential upside of 52.33% from the stock’s current price.

AXON has been the topic of several other research reports. Craig Hallum reissued a “buy” rating and issued a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. TD Cowen lowered their target price on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Royal Bank Of Canada cut their price target on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Finally, Barclays decreased their price objective on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average target price of $712.75.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock traded up $2.79 during mid-day trading on Thursday, hitting $459.51. 141,988 shares of the stock were exchanged, compared to its average volume of 1,083,390. Axon Enterprise has a 12 month low of $339.01 and a 12 month high of $885.91. The company has a 50-day simple moving average of $418.11 and a 200 day simple moving average of $482.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market capitalization of $37.04 billion, a P/E ratio of 183.80, a P/E/G ratio of 7.87 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 EPS. Sell-side analysts anticipate that Axon Enterprise will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Patrick W. Smith sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were 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 of the company’s stock, valued at $1,530,498,500. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 38,989 shares of company stock valued at $19,090,083. 4.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new position in Axon Enterprise during the 4th quarter valued at about $480,000. NewEdge Advisors LLC boosted its position in shares of Axon Enterprise by 41.1% in the first 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 boosted its position in shares of Axon Enterprise by 8.4% in the first 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 grew its stake in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after acquiring an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise during the second quarter valued at approximately $284,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Company Profile

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.