Axon Enterprise (NASDAQ:AXON – Get Free Report) had its price target reduced by analysts at JPMorgan Chase & Co. from $755.00 to $610.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 94.89% from the stock’s previous close.
A number of other research firms have also issued reports on AXON. Zacks Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 3rd. Craig Hallum cut Axon Enterprise from a “buy” rating to a “hold” rating and set a $390.00 price objective for the company. in a research report on Friday. Raymond James Financial set a $675.00 price objective on shares of Axon Enterprise in a research note on Thursday, October 15th. UBS Group boosted their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $540.00 target price (down from $561.00) on shares of Axon Enterprise in a research report on Friday. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $622.82.
Check Out Our Latest Stock Report on Axon Enterprise
Axon Enterprise Price Performance
AXON stock opened at $313.00 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.00 and a quick ratio of 2.60. Axon Enterprise has a 52-week low of $307.00 and a 52-week high of $665.07. The company has a 50-day moving average of $441.53 and a two-hundred day moving average of $475.20. The stock has a market capitalization of $25.43 billion, a price-to-earnings ratio of 100.32, a price-to-earnings-growth ratio of 5.95 and a beta of 1.48.
Axon Enterprise (NASDAQ:AXON – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.17). Axon Enterprise had a return on equity of 3.87% and a net margin of 7.56%. The business had revenue of $908.55 million during the quarter, compared to the consensus estimate of $934.33 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, equities research analysts anticipate that Axon Enterprise will post 2.10 EPS for the current year.
Insiders Place Their Bets
In other news, President Joshua Isner sold 16,775 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the sale, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $480.45, for a total transaction of $488,617.65. Following the completion of the sale, the insider owned 56,264 shares of the company’s stock, valued at $27,032,038.80. The trade was a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 37,397 shares of company stock valued at $21,234,034. Company insiders own 4.20% of the company’s stock.
Hedge Funds Weigh In On Axon Enterprise
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Axon Enterprise by 5,700.2% in the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Axon Enterprise by 18,050.2% during the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock worth $7,400,094,000 after purchasing an additional 13,127,348 shares in the last quarter. BlackRock Inc. boosted its position in shares of Axon Enterprise by 4.3% during the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock worth $4,672,432,000 after purchasing an additional 345,365 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Axon Enterprise by 391,214.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock valued at $2,952,943,000 after buying an additional 6,987,098 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Axon Enterprise by 5,022.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock valued at $1,802,719,000 after buying an additional 4,183,302 shares during the period. Institutional investors own 79.08% of the company’s stock.
Axon Enterprise Company Profile
Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals.
The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.
Founded in 1993 as TASER International, the company adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into connected devices and software.
Recommended Stories
- Five stocks we like better than Axon Enterprise
- America’s Rare Earth Clock Is Running Out, But the Bottleneck Isn’t Where You Think
- Atlassian Tanks After Huge Run as Guidance Disappoints, But Strength Remains
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
Receive News & Ratings for Axon Enterprise Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axon Enterprise and related companies with MarketBeat.com's FREE daily email newsletter.
