Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year High – What’s Next?

Axon Enterprise, Inc. (NASDAQ:AXON)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $439.38 and last traded at $439.38, with a volume of 54563 shares changing hands. The stock had previously closed at $434.98.

Wall Street Analyst Weigh In

AXON has been the subject of several recent research reports. Barclays increased their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JMP Securities lifted their price objective on shares of Axon Enterprise from $375.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Craig Hallum raised their target price on Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Axon Enterprise in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $385.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $365.38.

Axon Enterprise Price Performance

The stock has a 50 day moving average of $384.24 and a two-hundred day moving average of $329.30. The stock has a market cap of $32.81 billion, a PE ratio of 114.54, a PEG ratio of 11.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.18. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The company had revenue of $504.00 million for the quarter, compared to analysts’ expectations of $478.35 million. During the same quarter in the previous year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 34.5% on a year-over-year basis. Equities analysts anticipate that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Insider Activity

In other news, CFO Brittany Bagley sold 4,338 shares of Axon Enterprise stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $378.95, for a total transaction of $1,643,885.10. Following the completion of the sale, the chief financial officer now directly owns 98,825 shares in the company, valued at $37,449,733.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $373.03, for a total transaction of $167,863.50. Following the completion of the transaction, the director now directly owns 7,379 shares in the company, valued at $2,752,588.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brittany Bagley sold 4,338 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $378.95, for a total value of $1,643,885.10. Following the sale, the chief financial officer now owns 98,825 shares in the company, valued at approximately $37,449,733.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,172 shares of company stock worth $136,562,182 in the last three months. 6.10% of the stock is owned by insiders.

Institutional Trading of Axon Enterprise

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mather Group LLC. increased its position in shares of Axon Enterprise by 3.7% during the third quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock valued at $303,000 after purchasing an additional 27 shares during the period. CWM LLC boosted its holdings in Axon Enterprise by 1.3% during the third quarter. CWM LLC now owns 2,856 shares of the biotechnology company’s stock worth $1,141,000 after buying an additional 36 shares during the last quarter. Dorsey Wright & Associates boosted its holdings in Axon Enterprise by 0.3% during the second quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company’s stock worth $4,135,000 after buying an additional 39 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Axon Enterprise by 0.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after purchasing an additional 40 shares in the last quarter. Finally, Brookstone Capital Management lifted its holdings in shares of Axon Enterprise by 5.1% during the 1st quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 41 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors.

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.