Axon Enterprise (NASDAQ:AXON) Price Target Raised to $600.00

Axon Enterprise (NASDAQ:AXON - Get Free Report) had its target price boosted by stock analysts at Needham & Company LLC from $525.00 to $600.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's target price points to a potential downside of 0.53% from the company's previous close.

Several other research firms have also recently weighed in on AXON. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They issued a "buy" rating and a $385.00 target price for the company. Robert W. Baird raised their price objective on Axon Enterprise from $440.00 to $460.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. The Goldman Sachs Group lifted their price target on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Craig Hallum boosted their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Finally, JMP Securities raised their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a "market outperform" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $412.42.

Axon Enterprise Stock Performance

AXON stock traded up $134.43 during midday trading on Friday, hitting $603.18. 3,966,980 shares of the company traded hands, compared to its average volume of 538,452. The stock has a market capitalization of $45.58 billion, a price-to-earnings ratio of 155.86, a price-to-earnings-growth ratio of 11.70 and a beta of 0.94. Axon Enterprise has a twelve month low of $212.88 and a twelve month high of $611.88. The company has a quick ratio of 2.52, a current ratio of 2.88 and a debt-to-equity ratio of 0.35. The business has a 50 day simple moving average of $414.16 and a 200-day simple moving average of $347.27.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.18. The business had revenue of $504.00 million during the quarter, compared to analysts' expectations of $478.35 million. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The firm's revenue was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, equities research analysts predict that Axon Enterprise will post 1.79 earnings per share for the current year.

Insider Activity

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 shares were sold at an average price of $373.03, for a total transaction of $167,863.50. Following the transaction, the director now directly owns 7,379 shares in the company, valued at approximately $2,752,588.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business's stock in a transaction 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 sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick W. Smith sold 80,300 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the transaction, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,172 shares of company stock worth $136,270,842. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently made changes to their positions in AXON. Motley Fool Asset Management LLC grew its holdings in Axon Enterprise by 238.7% during the first quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company's stock worth $153,981,000 after purchasing an additional 346,838 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Axon Enterprise in the first quarter worth about $81,630,000. International Assets Investment Management LLC bought a new position in Axon Enterprise in the 3rd quarter valued at approximately $871,860,000. Vanguard Group Inc. grew its position in 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 acquiring an additional 212,401 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Axon Enterprise in the first quarter valued at approximately $39,923,000. 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.