Axon Enterprise (NASDAQ:AXON) Stock Gets Price Target Reduction from Piper Sandler

Axon Enterprise (NASDAQ:AXON) had its price objective reduced by Piper Sandler from $732.00 to $561.00 in a report published on Tuesday morning, MarketBeat reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley raised their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research note on Wednesday, August 5th. Citigroup restated a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $707.07.

Axon Enterprise Stock Up 3.0%

Axon Enterprise stock opened at $414.60 on Tuesday. Axon Enterprise has a 52 week low of $339.01 and a 52 week high of $764.02. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The stock has a market cap of $33.68 billion, a price-to-earnings ratio of 172.03, a PEG ratio of 7.66 and a beta of 1.44. The company’s 50-day moving average price is $484.49 and its two-hundred day moving average price is $474.28.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The business had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter last year, the business posted $2.12 earnings per share. The company’s quarterly revenue was up 35.3% on a year-over-year basis. On average, analysts expect that Axon Enterprise will post 2.10 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the transaction, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $480.45, for a total value of $488,617.65. Following the sale, the insider owned 56,264 shares in the company, valued at approximately $27,032,038.80. The trade was a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 47,397 shares of company stock worth $26,722,984. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wedbush Securities Inc. grew its stake in Axon Enterprise by 4,001.7% in the third quarter. Wedbush Securities Inc. now owns 160,664 shares of the biotechnology company’s stock valued at $67,884,000 after purchasing an additional 156,747 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in Axon Enterprise by 13,721.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 158,812 shares of the biotechnology company’s stock worth $67,101,000 after purchasing an additional 157,663 shares during the last quarter. Sterling Capital Management LLC increased its position in Axon Enterprise by 4,478.6% in the 3rd quarter. Sterling Capital Management LLC now owns 315,603 shares of the biotechnology company’s stock worth $133,349,000 after purchasing an additional 308,710 shares during the last quarter. WASHINGTON TRUST Co raised its stake in shares of Axon Enterprise by 40,106.2% during the 3rd quarter. WASHINGTON TRUST Co now owns 199,423 shares of the biotechnology company’s stock worth $84,260,000 after purchasing an additional 198,927 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in shares of Axon Enterprise by 6,248.3% during the 3rd quarter. Yousif Capital Management LLC now owns 505,323 shares of the biotechnology company’s stock worth $213,509,000 after purchasing an additional 497,363 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.