Axon Enterprise (NASDAQ:AXON) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Axon Enterprise (NASDAQ:AXON) had its price objective decreased by JPMorgan Chase & Co. from $755.00 to $610.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

AXON has been the topic of several other reports. Morgan Stanley lifted their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Needham & Company LLC cut their price target on Axon Enterprise from $750.00 to $500.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen cut their price target on Axon Enterprise from $825.00 to $800.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Argus boosted their price objective on Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Northcoast Research increased their price objective on Axon Enterprise from $650.00 to $680.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $622.82.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $313.00 on Friday. Axon Enterprise has a 12-month low of $307.00 and a 12-month high of $665.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.00 and a quick ratio of 2.60. The business has a 50 day simple moving average of $441.53 and a 200 day simple moving average of $475.20. The firm has a market capitalization 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 earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). Axon Enterprise had a net margin of 7.56% and a return on equity of 3.87%. The company had revenue of $908.55 million during the quarter, compared to the consensus estimate of $934.33 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities research analysts predict that Axon Enterprise will post 2.10 EPS for the current year.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 3,118,012 shares of the company’s stock, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey C. Kunins sold 9,605 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the sale, the insider owned 97,761 shares of the company’s stock, valued at $61,266,818.70. This trade represents a 8.95% decrease in their ownership of the stock. 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 37,397 shares of company stock valued at $21,234,034. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds have recently modified their holdings of AXON. State Street Corp grew its stake in Axon Enterprise by 5,700.2% during the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after acquiring an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Axon Enterprise by 391,214.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after purchasing an additional 6,987,098 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings 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 during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

About Axon Enterprise

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.