Axon Enterprise (NASDAQ:AXON) Stock Price Target Cut by JPMorgan Chase & Co.

Axon Enterprise (NASDAQ:AXON) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $755.00 to $610.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 94.89% from the company’s current price.

AXON has been the subject of a number of other research reports. TD Cowen lowered their target price on Axon Enterprise from $825.00 to $800.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Barclays raised their price target on Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reduced their price target on Axon Enterprise from $735.00 to $615.00 and set an “outperform” rating on the stock in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $540.00 price target (down from $561.00) on shares of Axon Enterprise in a research note on Friday. Finally, Morgan Stanley boosted their price objective on Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $622.82.

Axon Enterprise Price Performance

AXON stock opened at $313.00 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.60 and a current ratio of 3.00. Axon Enterprise has a 52 week low of $307.00 and a 52 week high of $665.07. The firm’s fifty day moving average is $441.53 and its 200 day moving average is $475.20. The firm has a market cap of $25.43 billion, a P/E ratio of 100.32, a P/E/G ratio of 5.95 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.17). Axon Enterprise had a return on equity of 3.87% and a net margin of 7.56%. The business had revenue of $908.55 million during the quarter, compared to the consensus estimate of $934.33 million. During the same period in the prior year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. Research analysts predict that Axon Enterprise will post 2.10 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Patrick Smith sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the transaction, the chief executive officer owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider owned 56,264 shares in the company, valued at approximately $27,032,038.80. This trade represents a 1.78% 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. Insiders sold 37,397 shares of company stock valued at $21,234,034 over the last three months. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Axon Enterprise

Large investors have recently bought and sold shares of the company. State Street Corp raised its position in Axon Enterprise by 5,700.2% in the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock worth $119,724,905,000 after buying an additional 209,879,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Axon Enterprise by 18,050.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after acquiring an additional 13,127,348 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Axon Enterprise by 4.3% during the 2nd quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after acquiring an additional 345,365 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Axon Enterprise by 391,214.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after acquiring an additional 6,987,098 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Axon Enterprise by 8,432.6% in 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 acquiring an additional 3,496,493 shares during the period. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Company Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals.

The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

Founded in 1993 as TASER International, the company adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into connected devices and software.