Axon Enterprise (NASDAQ:AXON) Hits New 52-Week High Following Analyst Upgrade

Axon Enterprise, Inc. (NASDAQ:AXON) hit a new 52-week high on Friday after JMP Securities raised their price target on the stock from $375.00 to $430.00. JMP Securities currently has an outperform rating on the stock. Axon Enterprise traded as high as $384.89 and last traded at $384.07, with a volume of 219201 shares trading hands. The stock had previously closed at $384.51.

A number of other analysts have also weighed in on the stock. Barclays upped their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $385.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Axon Enterprise in a report on Wednesday, August 7th. Robert W. Baird lifted their price objective on shares of Axon Enterprise from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Northland Securities raised their target price on Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Two 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 a consensus rating of “Moderate Buy” and a consensus target price of $365.38.

Insider Buying and Selling

In related news, CEO Patrick W. Smith sold 80,300 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $371.78, for a total transaction of $29,853,934.00. Following the completion of the transaction, the chief executive officer now owns 3,015,366 shares of the company’s stock, valued at approximately $1,121,052,771.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Patrick W. Smith sold 80,300 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the transaction, the chief executive officer now owns 3,015,366 shares of the company’s stock, valued at $1,121,052,771.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brittany Bagley sold 4,338 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $378.95, for a total value of $1,643,885.10. Following the transaction, the chief financial officer now owns 98,825 shares of the company’s stock, valued at $37,449,733.75. The disclosure for this sale can be found here. In the last three months, insiders sold 316,981 shares of company stock valued at $115,281,744. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors have recently added to or reduced their stakes in AXON. Blue Trust Inc. lifted its position in Axon Enterprise by 987.5% during the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after buying an additional 79 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $26,000. Trivant Custom Portfolio Group LLC acquired a new stake in shares of Axon Enterprise in the first quarter valued at approximately $31,000. First PREMIER Bank bought a new position in Axon Enterprise in the 1st quarter worth approximately $33,000. Finally, Blue Bell Private Wealth Management LLC acquired a new position in Axon Enterprise during the 1st quarter worth $41,000. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

The stock has a market capitalization of $29.04 billion, a P/E ratio of 112.43, a price-to-earnings-growth ratio of 9.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88. The stock has a 50-day simple moving average of $337.29 and a 200 day simple moving average of $313.60.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company had revenue of $504.00 million for the quarter, compared to the consensus estimate of $478.35 million. During the same period in the prior year, the company posted $0.80 EPS. The company’s revenue was up 34.5% compared to the same quarter last year. On average, equities analysts forecast that Axon Enterprise, Inc. will post 1.79 earnings per share for the current fiscal year.

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.