Axon Enterprise (NASDAQ:AXON) Trading 6.5% Higher – Still a Buy?

Axon Enterprise, Inc (NASDAQ:AXON)’s share price traded up 6.5% during trading on Tuesday . The company traded as high as $635.33 and last traded at $635.2620. Approximately 612,121 shares traded hands during trading, a decline of 43% from the average session volume of 1,077,021 shares. The stock had previously closed at $596.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AXON shares. Piper Sandler boosted their price objective on Axon Enterprise from $724.00 to $732.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Barclays lifted their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research report on Thursday, August 6th. Finally, UBS Group increased their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $730.92.

Axon Enterprise Price Performance

The firm’s 50 day moving average price is $516.19 and its two-hundred day moving average price is $473.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. The stock has a market cap of $51.47 billion, a PE ratio of 262.86, a P/E/G ratio of 11.65 and a beta of 1.39.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the firm earned $2.12 EPS. The company’s quarterly revenue was up 35.3% compared to the same quarter last year. On average, research analysts expect that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $500.00, for a total transaction of $10,000,000.00. Following the transaction, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. This trade represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joshua Isner sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 58,989 shares of company stock valued at $30,527,983. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Axon Enterprise

Several institutional investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV bought a new position in Axon Enterprise during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC increased its stake in shares of Axon Enterprise by 550.0% in the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock worth $30,000 after buying an additional 44 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise in the fourth quarter worth $30,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise during the 4th quarter valued at $34,000. Finally, Darwin Wealth Management LLC purchased a new stake in Axon Enterprise during the 2nd quarter valued at $37,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.