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

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

AXON has been the subject of several other reports. Argus assumed coverage on shares of Axon Enterprise in a report on Wednesday, March 13th. They set a “buy” rating and a $380.00 target price for the company. StockNews.com lowered shares of Axon Enterprise from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Axon Enterprise in a report on Wednesday. William Blair restated an “outperform” rating on shares of Axon Enterprise in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and an average price target of $314.91.

Axon Enterprise Stock Up 1.6 %

NASDAQ AXON traded up $4.97 during trading on Friday, hitting $311.21. The company’s stock had a trading volume of 133,178 shares, compared to its average volume of 465,356. The company has a market cap of $23.48 billion, a PE ratio of 135.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 2.66. The business’s 50 day simple moving average is $302.78 and its 200-day simple moving average is $260.58. Axon Enterprise has a fifty-two week low of $175.37 and a fifty-two week high of $329.87.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $195,406,000. Sands Capital Management LLC boosted its stake 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 valued at $519,823,000 after buying an additional 619,179 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Axon Enterprise by 184.3% during the third quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock worth $138,535,000 after buying an additional 451,350 shares in the last quarter. Polar Capital Holdings Plc increased its stake 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 worth $52,825,000 after buying an additional 197,746 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Axon Enterprise by 28.3% in 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 acquiring an additional 160,359 shares in the last quarter. 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.