Axon Enterprise, Inc (NASDAQ:AXON) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Axon Enterprise, Inc (NASDAQ:AXON) has earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $712.75.

AXON has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price target on Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Craig Hallum reissued a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 price target on Axon Enterprise in a research note on Thursday, May 7th. Robert W. Baird set a $800.00 price target on Axon Enterprise in a research note on Wednesday, February 25th. Finally, Citigroup reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, February 25th.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $441.73 on Tuesday. The firm has a market capitalization of $35.60 billion, a price-to-earnings ratio of 177.40, a PEG ratio of 8.03 and a beta of 1.45. Axon Enterprise has a 1 year low of $339.01 and a 1 year high of $885.91. The business has a 50 day simple moving average of $410.34 and a 200-day simple moving average of $489.19. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period last year, the company earned $1.47 EPS. Equities analysts forecast that Axon Enterprise will post 1.82 EPS for the current year.

Insider Activity

In related news, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This trade represents a 7.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at $1,530,498,500. This represents a 0.65% 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. Insiders sold 39,344 shares of company stock worth $19,267,315 in the last three months. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC purchased a new position in Axon Enterprise during the 4th quarter worth $480,000. NewEdge Advisors LLC increased its holdings in Axon Enterprise by 41.1% during the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after purchasing an additional 668 shares during the period. Empowered Funds LLC increased its holdings in Axon Enterprise by 8.4% during the 1st quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after purchasing an additional 157 shares during the period. Woodline Partners LP increased its holdings in Axon Enterprise by 40.6% during the 1st quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise during the 2nd quarter worth $284,000. 79.08% of the stock is owned by institutional investors.

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.