Axon Enterprise, Inc (NASDAQ:AXON) Stock Has Average Target Price of $721.57 According to Brokerages

Axon Enterprise, Inc (NASDAQ:AXON) has been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $721.57.

AXON has been the subject of several analyst reports. Piper Sandler increased their price objective on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Citigroup reiterated a “market outperform” rating on shares of Axon Enterprise in a report on Thursday, September 17th. Argus increased their price target on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Needham & Company LLC restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, September 2nd. Finally, UBS Group raised their price objective on Axon Enterprise from $440.00 to $600.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th.

Insider Activity

In other news, President Joshua Isner sold 16,775 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the completion of the sale, the president owned 296,974 shares in the company, valued at $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was 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. In the last three months, insiders have sold 47,397 shares of company stock worth $26,722,984. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Axon Enterprise

Hedge funds have recently bought and sold shares of the business. State Street Corp grew its position in shares of Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Axon Enterprise by 18,050.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after purchasing an additional 13,127,348 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Axon Enterprise by 8,432.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock valued at $1,983,414,000 after purchasing an additional 3,496,493 shares during the period. Nykredit A S bought a new stake in shares of Axon Enterprise during the 2nd quarter valued at $698,937,000. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in Axon Enterprise by 5,571.4% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 1,262,110 shares of the biotechnology company’s stock worth $533,267,000 after purchasing an additional 1,239,856 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Trading Down 1.2%

AXON opened at $408.42 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise has a fifty-two week low of $339.01 and a fifty-two week high of $764.02. The firm has a market capitalization of $33.18 billion, a PE ratio of 169.47, a P/E/G ratio of 7.78 and a beta of 1.44. The company’s 50-day moving average is $507.31 and its 200 day moving average is $475.11.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly 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. The business had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The firm’s revenue for the quarter was up 35.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. As a group, research analysts predict that Axon Enterprise will post 2.12 earnings per share for the current fiscal year.

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.