Axon Enterprise (NASDAQ:AXON) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $400.00 price objective on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a buy rating and a $385.00 price target on the stock. Bank of America assumed coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a buy rating and a $380.00 price target on the stock. Morgan Stanley boosted their price target on shares of Axon Enterprise from $285.00 to $310.00 and gave the company an equal weight rating in a report on Friday, April 26th. JMP Securities reissued a market outperform rating and issued a $375.00 price target on shares of Axon Enterprise in a report on Tuesday, May 7th. Finally, William Blair reissued an outperform rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $358.08.

Axon Enterprise Trading Down 0.9 %

Shares of AXON stock opened at $365.00 on Wednesday. Axon Enterprise has a 1 year low of $189.12 and a 1 year high of $371.99. The firm’s fifty day simple moving average is $300.84 and its 200 day simple moving average is $296.53. The firm has a market capitalization of $27.55 billion, a P/E ratio of 106.73, a price-to-earnings-growth ratio of 6.65 and a beta of 0.95. The company has a current ratio of 2.91, a quick ratio of 2.55 and a debt-to-equity ratio of 0.37.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.18. The business had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.73%. Axon Enterprise’s revenue was up 34.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. As a group, sell-side analysts predict that Axon Enterprise will post 2.35 EPS for the current year.

Insider Buying and Selling

In related news, Director Julie A. Cullivan sold 478 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $286.04, for a total transaction of $136,727.12. Following the transaction, the director now owns 5,546 shares in the company, valued at approximately $1,586,377.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Axon Enterprise news, Director Julie A. Cullivan sold 993 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $281.72, for a total transaction of $279,747.96. Following the transaction, the director now directly owns 4,553 shares in the company, valued at approximately $1,282,671.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julie A. Cullivan sold 478 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $286.04, for a total transaction of $136,727.12. Following the completion of the transaction, the director now directly owns 5,546 shares in the company, valued at approximately $1,586,377.84. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AXON. Norges Bank bought a new position in shares of Axon Enterprise in the 4th quarter valued at about $195,406,000. Motley Fool Asset Management LLC boosted its stake in shares of Axon Enterprise by 238.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after purchasing an additional 346,838 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Axon Enterprise in the 1st quarter valued at about $81,630,000. Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock valued at $2,547,878,000 after purchasing an additional 212,401 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Axon Enterprise in the 4th quarter valued at about $39,907,000. Institutional investors own 79.08% of the company’s stock.

Axon Enterprise Company Profile

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.