JMP Securities Forecasts Strong Price Appreciation for Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise (NASDAQ:AXON) had its price objective increased by JMP Securities from $430.00 to $500.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “market outperform” rating on the biotechnology company’s stock. JMP Securities’ target price indicates a potential upside of 17.41% from the company’s previous close.

A number of other brokerages have also recently issued reports on AXON. Jefferies Financial Group began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $385.00 price target for the company. Barclays boosted their price target on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Needham & Company LLC raised their price objective on Axon Enterprise from $400.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Bank of America assumed coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price on the stock. Finally, Robert W. Baird raised their price target on Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $388.23.

Axon Enterprise Price Performance

AXON stock opened at $425.84 on Thursday. The firm has a 50-day moving average of $402.34 and a 200 day moving average of $340.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.88 and a quick ratio of 2.52. The company has a market cap of $32.18 billion, a P/E ratio of 112.36, a PEG ratio of 11.18 and a beta of 0.94. Axon Enterprise has a 1 year low of $209.02 and a 1 year high of $455.17.

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

Insiders Place Their Bets

In other news, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now directly owns 26,259 shares of the company’s stock, valued at $11,500,916.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total transaction of $437,980.00. Following the completion of the sale, the director now owns 26,259 shares of the company’s stock, valued at $11,500,916.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick W. Smith sold 4,767 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $404.14, for a total transaction of $1,926,535.38. Following the completion of the transaction, the chief executive officer now directly owns 2,925,060 shares in the company, valued at approximately $1,182,133,748.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,172 shares of company stock valued at $137,000,162. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Axon Enterprise by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after buying an additional 212,401 shares during the period. Motley Fool Asset Management LLC lifted its holdings in Axon Enterprise by 238.7% during the first quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock valued at $153,981,000 after purchasing an additional 346,838 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Axon Enterprise by 44.0% in the second quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company’s stock worth $110,546,000 after purchasing an additional 114,800 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Axon Enterprise by 13.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 368,732 shares of the biotechnology company’s stock worth $108,496,000 after purchasing an additional 45,049 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Axon Enterprise by 1.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 270,430 shares of the biotechnology company’s stock valued at $79,571,000 after purchasing an additional 4,365 shares during the period. 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.