JPMorgan Chase & Co. Issues Pessimistic Forecast for Axon Enterprise (NASDAQ:AXON) Stock Price

Axon Enterprise (NASDAQ:AXON) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $755.00 to $610.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 94.89% from the stock’s previous close.

Several other brokerages have also commented on AXON. UBS Group boosted their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Northcoast Research increased their price target on shares of Axon Enterprise from $650.00 to $680.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Royal Bank Of Canada reduced their price objective on shares of Axon Enterprise from $735.00 to $615.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $540.00 price objective (down from $561.00) on shares of Axon Enterprise in a report on Friday. Finally, Argus upped their target price on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $622.82.

Axon Enterprise Stock Performance

NASDAQ AXON opened at $313.00 on Friday. The stock has a market capitalization of $25.43 billion, a P/E ratio of 100.32, a P/E/G ratio of 5.95 and a beta of 1.48. Axon Enterprise has a 52-week low of $307.00 and a 52-week high of $665.07. The firm has a 50-day moving average price of $441.53 and a 200 day moving average price of $475.20. The company has a quick ratio of 2.60, a current ratio of 3.00 and a debt-to-equity ratio of 0.76.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The business had revenue of $908.55 million during the quarter, compared to analysts’ expectations of $934.33 million. During the same period in the prior year, the firm posted $1.17 EPS. Axon Enterprise’s revenue for the quarter was up 27.8% compared to the same quarter last year. Equities research analysts expect that Axon Enterprise will post 2.10 EPS for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the transaction, the president owned 296,974 shares in the company, valued at $170,590,774.82. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 37,397 shares of company stock valued at $21,234,034. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its stake in shares of Axon Enterprise by 122,993.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 461,601 shares of the biotechnology company’s stock valued at $195,036,000 after acquiring an additional 461,226 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in Axon Enterprise in the 2nd quarter worth approximately $3,854,000. Arrowstreet Capital Limited Partnership bought a new stake in Axon Enterprise during the first quarter worth approximately $15,067,000. Brown Lisle Cummings Inc. boosted its position in Axon Enterprise by 97,231.4% during the second quarter. Brown Lisle Cummings Inc. now owns 34,066 shares of the biotechnology company’s stock worth $19,098,000 after purchasing an additional 34,031 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in Axon Enterprise by 40.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company’s stock valued at $6,406,000 after purchasing an additional 4,360 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Company Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals.

The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

Founded in 1993 as TASER International, the company adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into connected devices and software.