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

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $730.9231.

AXON has been the topic of several analyst reports. Barclays increased their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Piper Sandler upped their price objective on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Finally, UBS Group upped their target price on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th.

Insider Buying and Selling

In other news, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the transaction, the chief executive officer owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This trade represents a 0.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of Axon Enterprise stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 76,594 shares of company stock worth $41,236,386. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in Axon Enterprise by 55,955.7% in the second quarter. California State Teachers Retirement System now owns 64,781,849 shares of the biotechnology company’s stock valued at $36,317,352,000 after purchasing an additional 64,666,282 shares during the period. Vanguard Group Inc. increased its position in Axon Enterprise by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company’s stock valued at $5,319,928,000 after purchasing an additional 53,060 shares during the period. BlackRock Inc. lifted its position in shares of Axon Enterprise by 4.3% in the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after purchasing an additional 345,365 shares during the period. Geode Capital Management LLC boosted its stake in shares of Axon Enterprise by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company’s stock valued at $1,265,657,000 after purchasing an additional 35,544 shares during the last quarter. Finally, Sands Capital Management LLC boosted its stake in shares of Axon Enterprise by 11.6% in the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after purchasing an additional 167,095 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

AXON opened at $600.73 on Friday. The company has a fifty day moving average price of $560.75 and a two-hundred day moving average price of $482.99. The firm has a market capitalization of $48.80 billion, a PE ratio of 249.27, a P/E/G ratio of 9.75 and a beta of 1.39. Axon Enterprise has a 52 week low of $339.01 and a 52 week high of $792.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The company had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same quarter in the prior year, the business posted $2.12 EPS. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. As a group, analysts anticipate that Axon Enterprise will post 2.04 earnings per share for the current year.

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.