Argus Forecasts Strong Price Appreciation for Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise (NASDAQ:AXON) had its price objective hoisted by research analysts at Argus from $460.00 to $600.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Argus’ target price points to a potential upside of 18.35% from the company’s current price.

AXON has been the topic of several other reports. Zacks Research downgraded Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Barclays upped their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Morgan Stanley increased their price objective on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Piper Sandler boosted their price target on Axon Enterprise from $724.00 to $732.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average target price of $721.57.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $506.98 on Thursday. Axon Enterprise has a 12 month low of $339.01 and a 12 month high of $792.16. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm has a market cap of $41.19 billion, a P/E ratio of 210.37, a price-to-earnings-growth ratio of 8.41 and a beta of 1.40. The stock has a 50 day moving average of $566.59 and a two-hundred day moving average of $485.27.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period in the prior year, the firm earned $2.12 earnings per share. The business’s revenue for the quarter was up 35.3% compared to the same quarter last year. On average, analysts expect that Axon Enterprise will post 2.04 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 9,605 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $626.70, for a total transaction of $6,019,453.50. Following the completion of the transaction, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 9,930 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $548.77, for a total value of $5,449,286.10. Following the completion of the sale, the chief executive officer directly owned 3,031,067 shares of the company’s stock, valued at $1,663,358,637.59. This trade represents a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 69,380 shares of company stock worth $38,932,216. Insiders own 4.20% of the company’s stock.

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Evergreen Capital Management LLC lifted its stake in Axon Enterprise by 3.8% during the second quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 15 shares during the last quarter. Synergy Financial Group LTD raised its holdings in shares of Axon Enterprise by 1.4% during the 3rd quarter. Synergy Financial Group LTD now owns 1,388 shares of the biotechnology company’s stock valued at $996,000 after buying an additional 19 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Axon Enterprise by 1.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,631 shares of the biotechnology company’s stock valued at $1,350,000 after buying an additional 19 shares in the last quarter. Pure Financial Advisors LLC lifted its position in Axon Enterprise by 6.7% in the 4th quarter. Pure Financial Advisors LLC now owns 364 shares of the biotechnology company’s stock worth $207,000 after buying an additional 23 shares during the last quarter. Finally, Keel Point LLC boosted its stake in shares of Axon Enterprise by 4.4% in the 1st quarter. Keel Point LLC now owns 599 shares of the biotechnology company’s stock valued at $254,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.