Needham & Company LLC Raises Axon Enterprise (NASDAQ:AXON) Price Target to $525.00

Axon Enterprise (NASDAQ:AXON) had its price target lifted by Needham & Company LLC from $400.00 to $525.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Several other equities analysts also recently issued reports on the stock. Northland Securities upped their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Barclays upped their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. JMP Securities upped their price objective on shares of Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Bank of America began coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $380.00 price objective on the stock. Finally, Craig Hallum increased their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $375.00.

Axon Enterprise Trading Up 1.3 %

Shares of AXON opened at $449.61 on Tuesday. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $390.23 and its two-hundred day moving average is $332.92. Axon Enterprise has a twelve month low of $199.29 and a twelve month high of $455.17. The firm has a market capitalization of $33.98 billion, a P/E ratio of 118.63, a PEG ratio of 11.74 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company had revenue of $504.00 million for the quarter, compared to the consensus estimate of $478.35 million. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, research analysts predict that Axon Enterprise will post 1.79 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In other news, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the transaction, the director now directly owns 26,259 shares in the company, valued at approximately $11,500,916.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total value of $437,980.00. Following the sale, the director now directly owns 26,259 shares in the company, valued at $11,500,916.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 80,300 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,172 shares of company stock worth $137,000,162. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Hedge funds have recently made changes to their positions in the business. Avantax Advisory Services Inc. grew its stake in shares of Axon Enterprise by 0.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock worth $1,659,000 after purchasing an additional 40 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Axon Enterprise in the 1st quarter worth approximately $931,000. Zurich Insurance Group Ltd FI grew its stake in shares of Axon Enterprise by 1.9% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 205,015 shares of the biotechnology company’s stock worth $60,324,000 after purchasing an additional 3,832 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Axon Enterprise by 14.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 170,376 shares of the biotechnology company’s stock worth $53,307,000 after acquiring an additional 22,013 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Axon Enterprise by 21.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,153 shares of the biotechnology company’s stock worth $2,693,000 after acquiring an additional 1,634 shares in the last quarter. Institutional investors and hedge funds 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.