JMP Securities Boosts Axon Enterprise (NASDAQ:AXON) Price Target to $430.00

Axon Enterprise (NASDAQ:AXON) had its price objective raised by equities researchers at JMP Securities from $375.00 to $430.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. JMP Securities’ target price indicates a potential upside of 12.88% from the company’s current price.

Several other research firms also recently commented on AXON. Barclays lifted 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 started coverage on Axon Enterprise in a research note on Wednesday, July 17th. They set a “buy” rating and a $385.00 price objective on the stock. Bank of America began coverage on Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $380.00 price target on the stock. Craig Hallum raised their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Northland Securities lifted their price objective 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 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.com, Axon Enterprise has an average rating of “Moderate Buy” and a consensus target price of $365.38.

Axon Enterprise Price Performance

Shares of NASDAQ AXON traded up $19.23 during midday trading on Thursday, hitting $380.94. 603,378 shares of the company’s stock were exchanged, compared to its average volume of 518,730. The business’s fifty day moving average price is $335.53 and its two-hundred day moving average price is $313.10. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 111.52, a PEG ratio of 9.50 and a beta of 0.94. 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 12-month low of $189.12 and a 12-month high of $382.23.

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

Insider Buying and Selling at Axon Enterprise

In related news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $373.03, for a total value of $167,863.50. Following the sale, the director now owns 7,379 shares in the company, valued at $2,752,588.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Matthew R. Mcbrady sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $364.66, for a total value of $729,320.00. Following the transaction, the director now owns 4,892 shares in the company, valued at approximately $1,783,916.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $373.03, for a total transaction of $167,863.50. Following the sale, the director now owns 7,379 shares of the company’s stock, valued at $2,752,588.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,643 shares of company stock worth $113,637,859. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AXON. Dorsey Wright & Associates raised its stake in Axon Enterprise by 0.3% during the 2nd quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company’s stock worth $4,135,000 after acquiring an additional 39 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Axon Enterprise by 0.8% during the 1st 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 period. Brookstone Capital Management lifted its stake in shares of Axon Enterprise by 5.1% during the 1st quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Axon Enterprise by 1.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,997 shares of the biotechnology company’s stock valued at $1,033,000 after acquiring an additional 43 shares in the last quarter. Finally, CWM LLC boosted its stake in Axon Enterprise by 1.5% in the 2nd quarter. CWM LLC now owns 2,820 shares of the biotechnology company’s stock worth $830,000 after purchasing an additional 43 shares during the period. 79.08% of the stock is currently owned by institutional investors.

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.