Axon Enterprise (NASDAQ:AXON) Receives “Market Outperform” Rating from JMP Securities

Axon Enterprise (NASDAQ:AXON)‘s stock had its “market outperform” rating reissued by JMP Securities in a research report issued on Wednesday, Benzinga reports. They currently have a $375.00 target price on the biotechnology company’s stock. JMP Securities’ target price suggests a potential upside of 7.38% from the company’s current price.

A number of other brokerages have also commented on AXON. William Blair reissued an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Bank of America initiated coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price on the stock. Barclays upped their price target on Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley upped their target price on Axon Enterprise from $285.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Robert W. Baird boosted their price target on shares of Axon Enterprise from $355.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.08.

Axon Enterprise Stock Performance

Shares of AXON traded up $54.24 during mid-day trading on Wednesday, hitting $349.24. The stock had a trading volume of 3,366,760 shares, compared to its average volume of 517,121. The company has a quick ratio of 2.55, a current ratio of 2.91 and a debt-to-equity ratio of 0.37. Axon Enterprise has a fifty-two week low of $175.59 and a fifty-two week high of $367.95. The company’s fifty day simple moving average is $296.14 and its two-hundred day simple moving average is $294.62. The company has a market cap of $26.36 billion, a PE ratio of 102.12, a PEG ratio of 6.59 and a beta of 0.95.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.18. The firm had revenue of $504.00 million for the quarter, compared to analysts’ expectations of $478.35 million. Axon Enterprise had a net margin of 15.60% and a return on equity of 11.71%. Axon Enterprise’s revenue was up 34.5% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. On average, equities analysts expect that Axon Enterprise will post 2.35 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Julie A. Cullivan sold 993 shares of Axon Enterprise stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $281.72, for a total value of $279,747.96. Following the sale, the director now owns 4,553 shares of the company’s stock, valued at $1,282,671.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Axon Enterprise news, Director Julie A. Cullivan sold 993 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $281.72, for a total transaction of $279,747.96. Following the transaction, the director now owns 4,553 shares of the company’s stock, valued at $1,282,671.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Joshua Isner sold 44,000 shares of Axon Enterprise stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $309.96, for a total transaction of $13,638,240.00. Following the transaction, the president now directly owns 275,843 shares of the company’s stock, valued at $85,500,296.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,447 shares of company stock valued at $27,684,677. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new position in Axon Enterprise in the 4th quarter valued at about $26,000. Blue Trust Inc. grew its position in shares of Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 79 shares during the last quarter. Trivant Custom Portfolio Group LLC bought a new stake in Axon Enterprise in the first quarter valued at approximately $31,000. First PREMIER Bank bought a new stake in shares of Axon Enterprise in the 1st quarter valued at $33,000. Finally, Key Financial Inc boosted its position in Axon Enterprise by 367.6% during the fourth quarter. Key Financial Inc now owns 159 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 125 shares during the last quarter. 79.08% of the stock is 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.