Axon Enterprise, Inc (NASDAQ:AXON) Receives $762.93 Average Target Price from Analysts

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $762.9333.

Several equities research analysts have commented on AXON shares. Piper Sandler decreased their price objective on shares of Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Needham & Company LLC cut their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Morgan Stanley reduced their target price on Axon Enterprise from $713.00 to $675.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target for the company in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a report on Monday, December 29th.

Insider Activity

In related news, insider Isaiah Fields sold 2,000 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the completion of the transaction, the insider owned 55,588 shares in the company, valued at approximately $29,740,135.88. This represents a 3.47% 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 link. Also, Director Jeri Williams sold 157 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total transaction of $76,930.00. Following the sale, the director owned 1,159 shares of the company’s stock, valued at $567,910. This trade represents a 11.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 23,855 shares of company stock worth $13,299,928. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its position in shares of Axon Enterprise by 53.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company’s stock valued at $6,542,000 after acquiring an additional 4,002 shares during the period. World Investment Advisors raised its holdings in shares of Axon Enterprise by 37.1% in the 4th quarter. World Investment Advisors now owns 1,035 shares of the biotechnology company’s stock worth $588,000 after purchasing an additional 280 shares during the period. Pure Financial Advisors LLC raised its holdings in shares of Axon Enterprise by 6.7% in the 4th quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock worth $207,000 after purchasing an additional 23 shares during the period. Tobam lifted its stake in Axon Enterprise by 17.3% in the fourth quarter. Tobam now owns 5,833 shares of the biotechnology company’s stock valued at $3,313,000 after purchasing an additional 859 shares during the last quarter. Finally, Clearwave Capital LLC bought a new position in Axon Enterprise during the fourth quarter valued at $325,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Price Performance

AXON opened at $429.94 on Thursday. Axon Enterprise has a 1 year low of $396.41 and a 1 year high of $885.91. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 2.29. The company has a market capitalization of $34.57 billion, a price-to-earnings ratio of 282.86, a P/E/G ratio of 9.18 and a beta of 1.46. The firm’s fifty day moving average price is $502.05 and its two-hundred day moving average price is $590.87.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.60 by $0.55. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The company had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. During the same quarter in the prior year, the company posted $2.08 earnings per share. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. As a group, analysts anticipate that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

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.