Axon Enterprise (NASDAQ:AXON) Price Target Raised to $310.00 at Morgan Stanley

Axon Enterprise (NASDAQ:AXON) had its price objective upped by Morgan Stanley from $285.00 to $310.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s price target would suggest a potential downside of 0.39% from the company’s current price.

A number of other brokerages also recently issued reports on AXON. StockNews.com downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. upped their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays increased their price objective on Axon Enterprise from $296.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. JMP Securities raised their price target on Axon Enterprise from $250.00 to $285.00 and gave the company a “market outperform” rating in a report on Tuesday, February 6th. Finally, Robert W. Baird boosted their price objective on Axon Enterprise from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $314.91.

Axon Enterprise Stock Performance

AXON traded up $4.97 during trading on Friday, hitting $311.21. 133,178 shares of the company traded hands, compared to its average volume of 465,356. Axon Enterprise has a one year low of $175.37 and a one year high of $329.87. The stock’s fifty day moving average is $302.78 and its 200 day moving average is $260.58. The company has a quick ratio of 2.66, a current ratio of 3.00 and a debt-to-equity ratio of 0.42. The firm has a market cap of $23.48 billion, a P/E ratio of 135.27 and a beta of 0.93.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.29. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The firm had revenue of $432.14 million during the quarter, compared to the consensus estimate of $418.97 million. As a group, equities analysts predict that Axon Enterprise will post 2.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Axon Enterprise in the 4th quarter worth approximately $195,406,000. Sands Capital Management LLC increased its holdings in shares of Axon Enterprise by 31.1% in the 3rd quarter. Sands Capital Management LLC now owns 2,612,305 shares of the biotechnology company’s stock worth $519,823,000 after purchasing an additional 619,179 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Axon Enterprise by 184.3% in the third quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock worth $138,535,000 after purchasing an additional 451,350 shares during the last quarter. Polar Capital Holdings Plc lifted its holdings in shares of Axon Enterprise by 292.0% during the third quarter. Polar Capital Holdings Plc now owns 265,464 shares of the biotechnology company’s stock valued at $52,825,000 after purchasing an additional 197,746 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Axon Enterprise by 28.3% during the third quarter. Bank of New York Mellon Corp now owns 726,400 shares of the biotechnology company’s stock valued at $144,546,000 after buying an additional 160,359 shares during the last quarter. 79.08% of the stock is owned by institutional investors.

About Axon Enterprise

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.