Axon Enterprise (NASDAQ:AXON) Given New $800.00 Price Target at TD Cowen

Axon Enterprise (NASDAQ:AXON) had its price objective dropped by research analysts at TD Cowen from $825.00 to $800.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. TD Cowen‘s price target would suggest a potential upside of 88.99% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut their price objective on shares of Axon Enterprise from $732.00 to $561.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. Argus boosted their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Citigroup reiterated a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. UBS Group increased their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average price target of $688.38.

Axon Enterprise Trading Up 0.7%

NASDAQ:AXON traded up $2.93 during trading hours on Monday, hitting $423.30. The company had a trading volume of 140,211 shares, compared to its average volume of 1,048,422. 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 company has a 50-day moving average of $480.64 and a 200 day moving average of $474.33. The company has a market cap of $34.39 billion, a P/E ratio of 175.49, a P/E/G ratio of 7.99 and a beta of 1.44. Axon Enterprise has a 1 year low of $339.01 and a 1 year high of $764.02.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping 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 business had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. During the same period last year, the company earned $2.12 EPS. The company’s revenue for the quarter was up 35.3% on a year-over-year basis. Sell-side analysts expect that Axon Enterprise will post 2.10 earnings per share for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares in the company, valued at approximately $61,266,818.70. The trade was a 8.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 47,397 shares of company stock valued at $26,722,984. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AXON. Keating Financial Advisory Services Inc. purchased a new position in shares of Axon Enterprise in the 2nd quarter valued at $31,000. Washington Trust Advisors Inc. lifted its position in Axon Enterprise by 1,300.0% in the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 65 shares during the last quarter. Wealth Enhancement Trust Services Inc. purchased a new stake in Axon Enterprise in the third quarter valued at $33,000. Delos Wealth Advisors LLC purchased a new stake in Axon Enterprise in the second quarter valued at $45,000. Finally, Owl Creek Wealth Partners LLC boosted its stake in Axon Enterprise by 84.8% in the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

About Axon Enterprise

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.