Axon Enterprise (NASDAQ:AXON) Shares Gap Up - What's Next?

Shares of Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $468.75, but opened at $540.00. Axon Enterprise shares last traded at $525.69, with a volume of 225,117 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Craig Hallum boosted their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Robert W. Baird boosted their price objective on shares of Axon Enterprise from $440.00 to $460.00 and gave the stock an "outperform" rating in a report on Monday. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They issued a "buy" rating and a $385.00 target price for the company. Northland Securities lifted their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC boosted their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $398.62.

Axon Enterprise Trading Up 28.7 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. The company's 50 day moving average price is $409.39 and its two-hundred day moving average price is $344.81. The stock has a market capitalization of $45.58 billion, a PE ratio of 160.26, a P/E/G ratio of 11.70 and a beta of 0.94.

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

Insider Activity

In related news, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at approximately $1,121,052,771.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Axon Enterprise news, CEO Patrick W. Smith sold 70,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $362.21, for a total transaction of $25,354,700.00. Following the completion of the transaction, the chief executive officer now owns 2,945,366 shares in the company, valued at $1,066,841,018.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick W. Smith sold 80,300 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the sale, the chief executive officer now owns 3,015,366 shares of the company's stock, valued at $1,121,052,771.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 369,172 shares of company stock valued at $136,270,842. Company insiders own 6.10% of the company's stock.

Institutional Trading of Axon Enterprise

Several institutional investors have recently modified their holdings of AXON. Blue Trust Inc. raised its position in Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 79 shares during the last quarter. Quent Capital LLC raised its position in Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Asset Dedication LLC purchased a new stake in Axon Enterprise in the 2nd quarter valued at $47,000. Planning Capital Management Corp raised its position in Axon Enterprise by 83.3% in the 3rd quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 55 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Axon Enterprise in the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 79.08% of the company's stock.

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.