Royal Bank Of Canada Initiates Coverage on Axon Enterprise (NASDAQ:AXON)

Equities researchers at Royal Bank Of Canada assumed coverage on shares of Axon Enterprise (NASDAQ:AXON) in a report released on Monday, MarketBeat reports. The firm set an “outperform” rating and a $860.00 price target on the biotechnology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 61.12% from the stock’s current price.

Several other brokerages also recently weighed in on AXON. The Goldman Sachs Group reduced their target price on Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. UBS Group dropped their price target on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Cowen restated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Wall Street Zen cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Thursday, November 13th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $814.00.

Axon Enterprise Trading Down 1.7%

Shares of Axon Enterprise stock opened at $533.77 on Monday. The firm has a 50-day simple moving average of $694.97 and a two-hundred day simple moving average of $734.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise has a fifty-two week low of $469.24 and a fifty-two week high of $885.91. The company has a market cap of $42.12 billion, a P/E ratio of 131.80, a price-to-earnings-growth ratio of 29.49 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.46). The business had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 EPS. As a group, equities analysts predict that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jennifer H. Mak sold 77 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $760.00, for a total transaction of $58,520.00. Following the transaction, the chief accounting officer owned 15,003 shares of the company’s stock, valued at approximately $11,402,280. The trade was a 0.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $743.64, for a total transaction of $7,436,400.00. Following the completion of the sale, the chief executive officer directly owned 3,043,982 shares of the company’s stock, valued at $2,263,626,774.48. This represents a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,622 shares of company stock worth $26,439,364 in the last quarter. 4.40% of the stock is currently owned by insiders.

Institutional Trading of Axon Enterprise

Several institutional investors have recently made changes to their positions in AXON. Vanguard Group Inc. grew its position in Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after acquiring an additional 376,904 shares during the period. Geode Capital Management LLC lifted its stake in shares of Axon Enterprise by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,072,186 shares of the biotechnology company’s stock valued at $1,713,332,000 after purchasing an additional 115,349 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Axon Enterprise by 15.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company’s stock worth $675,812,000 after purchasing an additional 175,890 shares during the period. Jennison Associates LLC increased its position in shares of Axon Enterprise by 53.8% during the 3rd quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock worth $677,412,000 after purchasing an additional 330,213 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Axon Enterprise by 29.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock worth $487,977,000 after purchasing an additional 212,931 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.