Axon Enterprise (NASDAQ:AXON) Price Target Raised to $600.00 at Needham & Company LLC

Axon Enterprise (NASDAQ:AXON) had its price target hoisted by analysts at Needham & Company LLC from $525.00 to $600.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price target would indicate a potential downside of 1.22% from the company’s previous close.

AXON has been the topic of a number of other reports. The Goldman Sachs Group upped their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Craig Hallum upped their target price on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird upped their target price on shares of Axon Enterprise from $440.00 to $460.00 and gave the company an “outperform” rating in a research note on Monday. Northland Securities increased their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Bank of America assumed coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $380.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $398.62.

Axon Enterprise Trading Up 29.6 %

NASDAQ AXON traded up $138.64 during trading on Friday, hitting $607.39. The company had a trading volume of 2,928,070 shares, compared to its average volume of 533,687. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. Axon Enterprise has a one year low of $212.88 and a one year high of $610.93. The company has a market cap of $45.90 billion, a price-to-earnings ratio of 160.26, a price-to-earnings-growth ratio of 11.70 and a beta of 0.94. The company’s fifty day moving average is $409.39 and its 200-day moving average is $344.81.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The business had revenue of $504.00 million during the quarter, compared to analyst estimates of $478.35 million. During the same period in the prior year, the business earned $0.80 EPS. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, sell-side analysts predict that Axon Enterprise will post 1.79 earnings per share for the current year.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the sale, the chief executive officer now directly owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeri Williams sold 110 shares of Axon Enterprise stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $400.00, for a total value of $44,000.00. Following the completion of the sale, the director now owns 1,934 shares of the company’s stock, valued at $773,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 369,172 shares of company stock worth $136,270,842 over the last three months. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. grew its stake in Axon Enterprise by 0.8% in the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after purchasing an additional 40 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of Axon Enterprise during the 3rd quarter worth approximately $221,000. Sequoia Financial Advisors LLC raised its stake in shares of Axon Enterprise by 4.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock worth $690,000 after buying an additional 81 shares during the period. Zurich Insurance Group Ltd FI raised its stake in shares of Axon Enterprise by 1.9% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 205,015 shares of the biotechnology company’s stock worth $60,324,000 after buying an additional 3,832 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Axon Enterprise by 21.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,153 shares of the biotechnology company’s stock valued at $2,693,000 after purchasing an additional 1,634 shares during 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, 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.