Axon Enterprise (NASDAQ:AXON) Price Target Raised to $895.00

Axon Enterprise (NASDAQ:AXON) had its price target upped by Bank of America from $750.00 to $895.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Several other brokerages have also recently issued reports on AXON. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Needham & Company LLC increased their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Craig Hallum cut Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group increased their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $699.55.

Axon Enterprise Stock Up 0.4%

NASDAQ:AXON opened at $791.85 on Wednesday. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $643.89 and its two-hundred day moving average is $616.45. Axon Enterprise has a 52 week low of $278.24 and a 52 week high of $798.16. The stock has a market capitalization of $61.65 billion, a price-to-earnings ratio of 204.61, a price-to-earnings-growth ratio of 5.17 and a beta of 1.24.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The company had revenue of $603.63 million for the quarter, compared to analysts’ expectations of $585.67 million. During the same period in the prior year, the firm earned $1.15 earnings per share. The firm’s revenue was up 31.3% compared to the same quarter last year. Research analysts anticipate that Axon Enterprise will post 5.8 EPS for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the transaction, the chief executive officer now owns 3,063,982 shares of the company’s stock, valued at approximately $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Garnreiter sold 87 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.00, for a total value of $66,120.00. Following the transaction, the director now directly owns 24,653 shares in the company, valued at approximately $18,736,280. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,969 shares of company stock valued at $29,909,594 over the last quarter. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Hedge funds have recently made changes to their positions in the company. TCTC Holdings LLC boosted its stake in shares of Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock worth $29,000 after buying an additional 24 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Axon Enterprise during the fourth quarter worth about $30,000. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Axon Enterprise by 132.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 58 shares of the biotechnology company’s stock worth $31,000 after buying an additional 33 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Axon Enterprise during the first quarter worth about $31,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Axon Enterprise during the first quarter worth about $32,000. 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.