Axon Enterprise, Inc (NASDAQ:AXON) Stock Has Average Target Price of $721.57 According to Brokerages

Shares of Axon Enterprise, Inc (NASDAQ:AXON) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $718.47.

A number of research analysts have issued reports on the stock. Raymond James Financial set a $675.00 price target on shares of Axon Enterprise in a research note on Thursday. TD Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Tuesday, October 13th. UBS Group lifted their price target on Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, Argus increased their price objective on Axon Enterprise from $460.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, September 3rd.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $574.43, for a total value of $9,636,063.25. Following the transaction, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the stock in a transaction that occurred on 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 owned 97,761 shares in the company, valued at approximately $61,266,818.70. This trade represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 47,397 shares of company stock worth $26,722,984 in the last ninety days. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after acquiring an additional 209,879,882 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. BlackRock Inc. grew its position in shares of Axon Enterprise by 4.3% in the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after purchasing an additional 345,365 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Axon Enterprise by 5,022.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after purchasing an additional 4,183,302 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Axon Enterprise by 8,432.6% during the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company’s stock worth $1,983,414,000 after purchasing an additional 3,496,493 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $390.29 on Monday. Axon Enterprise has a 12-month low of $339.01 and a 12-month high of $764.02. The business’s fifty day simple moving average is $501.59 and its 200-day simple moving average is $474.85. 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 company has a market cap of $31.71 billion, a PE ratio of 161.95, a PEG ratio of 7.34 and a beta of 1.44.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The firm had revenue of $904.39 million during the quarter, compared to analysts’ expectations of $876.42 million. During the same quarter last year, the firm earned $2.12 EPS. The business’s quarterly revenue was up 35.3% on a year-over-year basis. Analysts expect that Axon Enterprise will post 2.12 earnings per share for the current fiscal year.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.