Axon Enterprise (NASDAQ:AXON) Hits New 52-Week High After Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) reached a new 52-week high on Friday after JMP Securities raised their price target on the stock from $375.00 to $430.00. JMP Securities currently has an outperform rating on the stock. Axon Enterprise traded as high as $384.89 and last traded at $384.07, with a volume of 219201 shares trading hands. The stock had previously closed at $384.51.

A number of other equities research analysts have also recently commented on the company. Bank of America assumed coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a "buy" rating and a $380.00 price objective for the company. Craig Hallum lifted their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Northland Securities raised their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They issued a "buy" rating and a $385.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of Axon Enterprise in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $365.38.

Insiders Place Their Bets

In related news, CFO Brittany Bagley sold 4,338 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $378.95, for a total transaction of $1,643,885.10. Following the completion of the transaction, the chief financial officer now directly owns 98,825 shares in the company, valued at $37,449,733.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Matthew R. Mcbrady sold 2,000 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $364.66, for a total value of $729,320.00. Following the completion of the transaction, the director now directly owns 4,892 shares in the company, valued at $1,783,916.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brittany Bagley sold 4,338 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $378.95, for a total value of $1,643,885.10. Following the sale, the chief financial officer now owns 98,825 shares in the company, valued at approximately $37,449,733.75. The disclosure for this sale can be found here. Insiders have sold 316,981 shares of company stock worth $115,281,744 in the last three months. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors have recently modified their holdings of AXON. Norges Bank purchased a new stake in Axon Enterprise in the fourth quarter worth approximately $195,406,000. Motley Fool Asset Management LLC boosted its stake in shares of Axon Enterprise by 238.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company's stock valued at $153,981,000 after purchasing an additional 346,838 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Axon Enterprise in the first quarter worth $81,630,000. Vanguard Group Inc. boosted its position in Axon Enterprise by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company's stock valued at $2,547,878,000 after buying an additional 212,401 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Axon Enterprise by 110.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 276,011 shares of the biotechnology company's stock valued at $71,302,000 after buying an additional 144,568 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Performance

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 company has a fifty day moving average price of $338.92 and a 200 day moving average price of $314.35. The stock has a market cap of $28.69 billion, a PE ratio of 111.00, a P/E/G ratio of 9.69 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly 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. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The business had revenue of $504.00 million for the quarter, compared to analysts' expectations of $478.35 million. During the same period in the previous year, the firm earned $0.80 EPS. The business's quarterly revenue was up 34.5% on a year-over-year basis. Analysts expect that Axon Enterprise, Inc. will post 1.79 earnings per share for the current year.

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.