Axon Enterprise (NASDAQ:AXON) Stock Lifted to Strong-Buy by Zacks Research

Zacks Research upgraded shares of Axon Enterprise (NASDAQ:AXON) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks reports.

A number of other analysts also recently weighed in on AXON. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a report on Thursday, June 25th. Barclays lifted their target price on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Morgan Stanley increased their price target on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Piper Sandler raised their price objective on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus price target of $721.57.

Axon Enterprise Price Performance

Shares of AXON opened at $418.62 on Monday. The business has a 50-day simple moving average of $525.20 and a two-hundred day simple moving average of $477.86. Axon Enterprise has a 12-month low of $339.01 and a 12-month high of $764.02. The stock has a market cap of $34.01 billion, a PE ratio of 173.70, a PEG ratio of 7.75 and a beta of 1.44. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. The company had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The firm’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Analysts anticipate that Axon Enterprise will post 2.12 earnings per share for the current fiscal year.

Insider Activity

In other Axon Enterprise news, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 97,761 shares in the company, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick 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 completion of the transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. 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 worth $26,722,984. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its stake in shares of Axon Enterprise by 53.2% in 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 in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Axon Enterprise by 122,993.6% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company’s stock worth $195,036,000 after acquiring an additional 461,226 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in Axon Enterprise during the second quarter worth $3,854,000. Arrowstreet Capital Limited Partnership acquired a new stake in Axon Enterprise in the first quarter worth $15,067,000. Finally, Brown Lisle Cummings Inc. grew its holdings in Axon Enterprise by 97,231.4% in the second quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company’s stock worth $19,098,000 after purchasing an additional 34,031 shares during the period. 79.08% of the stock is currently owned by institutional investors.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.