JMP Securities Raises Axon Enterprise (NASDAQ:AXON) Price Target to $430.00

Axon Enterprise (NASDAQ:AXON) had its target price lifted by JMP Securities from $375.00 to $430.00 in a research report report published on Thursday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

A number of other equities analysts have also issued reports on the company. Barclays raised their price target on Axon Enterprise from $381.00 to $387.00 and gave the stock an overweight rating in a report 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. Craig Hallum boosted their target price on Axon Enterprise from $370.00 to $376.00 and gave the company a buy rating in a report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Axon Enterprise in a report on Wednesday, July 17th. They set a buy rating and a $385.00 price target for the company. Finally, Robert W. Baird boosted their price objective on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an outperform rating in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $365.38.

Axon Enterprise Trading Down 1.3 %

AXON opened at $379.61 on Thursday. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. Axon Enterprise has a 52 week low of $189.12 and a 52 week high of $385.00. The business’s 50 day moving average is $338.92 and its two-hundred day moving average is $314.68. The firm has a market cap of $28.69 billion, a price-to-earnings ratio of 111.00, a price-to-earnings-growth ratio of 10.30 and a beta of 0.94.

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

Insiders Place Their Bets

In related news, Director Julie A. Cullivan sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $353.53, for a total value of $318,177.00. Following the completion of the transaction, the director now directly owns 3,653 shares of the company’s stock, valued at approximately $1,291,445.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Patrick W. Smith sold 80,300 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julie A. Cullivan sold 900 shares of Axon Enterprise stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $353.53, for a total value of $318,177.00. Following the sale, the director now owns 3,653 shares of the company’s stock, valued at approximately $1,291,445.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 316,981 shares of company stock worth $115,281,744. 6.10% of the stock is owned by company insiders.

Institutional Trading of Axon Enterprise

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Axon Enterprise by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after buying an additional 212,401 shares during the last quarter. Sands Capital Management LLC increased its position in shares of Axon Enterprise by 0.6% in the fourth quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company’s stock worth $679,060,000 after acquiring an additional 16,347 shares in the last quarter. Norges Bank purchased a new position in shares of Axon Enterprise in the 4th quarter valued at $195,406,000. Westfield Capital Management Co. LP lifted its holdings in shares of Axon Enterprise by 5.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company’s stock valued at $189,025,000 after acquiring an additional 35,528 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its position in Axon Enterprise by 0.9% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 517,777 shares of the biotechnology company’s stock worth $133,757,000 after purchasing an additional 4,511 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

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.