Needham & Company LLC Forecasts Strong Price Appreciation for Axos Financial (NYSE:AX) Stock

Axos Financial (NYSE:AX - Free Report) had its price target upped by Needham & Company LLC from $82.00 to $85.00 in a report issued on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on AX. Wedbush lowered their price objective on Axos Financial from $80.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, September 24th. Piper Sandler lifted their price objective on Axos Financial from $68.00 to $84.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods lowered Axos Financial from an "outperform" rating to a "market perform" rating and set a $79.00 price objective on the stock. in a report on Wednesday, July 31st. Finally, Raymond James lifted their price objective on Axos Financial from $67.00 to $81.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.80.

Axos Financial Stock Performance

Shares of AX traded up $1.23 during midday trading on Thursday, reaching $67.72. 718,062 shares of the stock were exchanged, compared to its average volume of 575,672. The business's 50-day moving average price is $64.89 and its 200 day moving average price is $61.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial has a twelve month low of $32.05 and a twelve month high of $79.15. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 9.34 and a beta of 1.39.

Axos Financial (NYSE:AX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.16. The business had revenue of $512.87 million for the quarter, compared to analysts' expectations of $299.59 million. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, sell-side analysts expect that Axos Financial will post 7.12 EPS for the current fiscal year.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value of $328,086.61. Following the completion of the transaction, the executive vice president now directly owns 424,149 shares in the company, valued at approximately $26,776,526.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.82% of the stock is currently owned by insiders.

Institutional Trading of Axos Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its position in Axos Financial by 5.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,291 shares of the company's stock worth $302,000 after purchasing an additional 266 shares during the period. CWM LLC boosted its position in Axos Financial by 5.4% during the 2nd quarter. CWM LLC now owns 5,208 shares of the company's stock worth $298,000 after purchasing an additional 269 shares during the period. SummerHaven Investment Management LLC boosted its position in Axos Financial by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,645 shares of the company's stock worth $1,008,000 after purchasing an additional 281 shares during the period. GAMMA Investing LLC boosted its position in Axos Financial by 45.7% during the 3rd quarter. GAMMA Investing LLC now owns 982 shares of the company's stock worth $62,000 after purchasing an additional 308 shares during the period. Finally, Foundry Partners LLC boosted its position in Axos Financial by 5.8% in the 2nd quarter. Foundry Partners LLC now owns 5,779 shares of the company's stock valued at $330,000 after buying an additional 316 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.