Axon Enterprise (NASDAQ:AXON) Price Target Raised to $724.00

Axon Enterprise (NASDAQ:AXON) had its price target hoisted by analysts at Piper Sandler from $674.00 to $724.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target would indicate a potential upside of 27.96% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. UBS Group decreased their price objective on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Needham & Company LLC raised their price target on Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Zacks Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Finally, Barclays decreased their target price on shares of Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $725.25.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $565.80 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.93 and a current ratio of 2.27. Axon Enterprise has a one year low of $339.01 and a one year high of $885.91. The firm has a market capitalization of $45.60 billion, a P/E ratio of 227.23, a PEG ratio of 11.54 and a beta of 1.38. The company’s fifty day moving average is $457.90 and its two-hundred day moving average is $482.95.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. During the same period in the previous year, the business earned $1.47 earnings per share. Axon Enterprise’s quarterly revenue was up 33.7% compared to the same quarter last year. Analysts forecast that Axon Enterprise will post 1.63 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the transaction, the director owned 3,632 shares in the company, valued at $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 58,989 shares of company stock worth $30,527,983 over the last ninety days. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AXON. Rockefeller Capital Management L.P. grew its position in shares of Axon Enterprise by 53.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock worth $6,542,000 after acquiring an additional 4,002 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Axon Enterprise by 1.3% in the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company’s stock valued at $242,241,000 after purchasing an additional 5,419 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $13,116,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Axon Enterprise by 93.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,365 shares of the biotechnology company’s stock worth $13,270,000 after buying an additional 11,262 shares during the period. Finally, Teamwork Financial Advisors LLC boosted its position in shares of Axon Enterprise by 40.5% during the fourth quarter. Teamwork Financial Advisors LLC now owns 25,352 shares of the biotechnology company’s stock worth $14,398,000 after buying an additional 7,307 shares during the period. 79.08% of the stock is currently owned by institutional investors.

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.