Needham & Company LLC Reaffirms Buy Rating for Axon Enterprise (NASDAQ:AXON)

Axon Enterprise (NASDAQ:AXON - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $600.00 price target on the biotechnology company's stock. Needham & Company LLC's price target would suggest a potential upside of 8.01% from the company's previous close.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group lifted their price objective on Axon Enterprise from $500.00 to $700.00 and gave the stock a "buy" rating in a report on Monday, January 27th. JMP Securities reiterated an "outperform" rating on shares of Axon Enterprise in a research report on Tuesday, February 4th. Barclays restated a "hold" rating on shares of Axon Enterprise in a report on Monday, March 10th. Craig Hallum downgraded shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Finally, TD Cowen began coverage on Axon Enterprise in a research report on Wednesday, January 8th. They set a "buy" rating and a $700.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $626.45.

Axon Enterprise Trading Up 2.5 %

Shares of Axon Enterprise stock opened at $555.52 on Wednesday. The company has a 50-day moving average of $551.62 and a two-hundred day moving average of $568.27. The stock has a market cap of $42.57 billion, a PE ratio of 143.55, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. Axon Enterprise has a 12-month low of $273.52 and a 12-month high of $715.99.

Insider Buying and Selling

In other news, Director Jeri Williams sold 307 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the transaction, the director now directly owns 1,627 shares in the company, valued at $899,275.44. This represents a 15.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently bought and sold shares of AXON. Capital World Investors grew its stake in shares of Axon Enterprise by 86.4% during the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company's stock valued at $1,079,145,000 after buying an additional 841,772 shares during the period. Alliancebernstein L.P. grew its position in Axon Enterprise by 273.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company's stock valued at $659,128,000 after acquiring an additional 812,337 shares during the period. Norges Bank acquired a new stake in Axon Enterprise during the fourth quarter worth about $482,081,000. GQG Partners LLC acquired a new position in shares of Axon Enterprise in the 4th quarter valued at about $478,349,000. Finally, GAMMA Investing LLC grew its holdings in shares of Axon Enterprise by 58,725.5% during the 1st quarter. GAMMA Investing LLC now owns 764,731 shares of the biotechnology company's stock worth $402,210,000 after purchasing an additional 763,431 shares during the period. Institutional investors and hedge funds 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.

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