Axon Enterprise (NASDAQ:AXON) Shares Gap Up – Time to Buy?

Axon Enterprise, Inc. (NASDAQ:AXON) gapped up before the market opened on Friday . The stock had previously closed at $468.75, but opened at $540.00. Axon Enterprise shares last traded at $525.69, with a volume of 225,117 shares.

Analysts Set New Price Targets

AXON has been the topic of several recent research reports. Needham & Company LLC boosted their price target on Axon Enterprise from $400.00 to $525.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Northland Securities upped their price target on Axon Enterprise from $330.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JMP Securities lifted their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group initiated coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price objective on the stock. Finally, Barclays raised their target price 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. Two investment 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, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $392.85.

Axon Enterprise Price Performance

The firm has a market cap of $40.76 billion, a PE ratio of 138.70, a price-to-earnings-growth ratio of 11.70 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. The company has a 50 day moving average price of $409.39 and a 200 day moving average price of $344.81.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping 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 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 previous year, the business earned $0.80 earnings per share. Axon Enterprise’s quarterly revenue was up 34.5% compared to the same quarter last year. On average, sell-side analysts expect that Axon Enterprise, Inc. will post 1.79 EPS for the current year.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 80,300 shares of Axon Enterprise stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,121,052,771.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Patrick W. Smith sold 80,300 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 3,015,366 shares of the company’s stock, 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 Caitlin Elizabeth Kalinowski sold 450 shares of the stock in a transaction 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 directly owns 7,379 shares in the company, valued at approximately $2,752,588.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,172 shares of company stock worth $136,270,842 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently modified their holdings of AXON. Quent Capital LLC raised its holdings in Axon Enterprise by 1,875.0% in the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. Blue Trust Inc. increased its stake in Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 79 shares during the last quarter. Planning Capital Management Corp lifted its position in Axon Enterprise by 83.3% during the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock worth $48,000 after buying an additional 55 shares during the period. Friedenthal Financial acquired a new stake in Axon Enterprise in the 3rd quarter worth about $51,000. Finally, Reston Wealth Management LLC purchased a new stake in Axon Enterprise in the 3rd quarter valued at about $60,000. Institutional investors and hedge funds 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.