Axon Enterprise (NASDAQ:AXON) Now Covered by Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Axon Enterprise (NASDAQ:AXONGet Rating) in a research note issued to investors on Monday, The Fly reports. The brokerage set an “outperform” rating and a $169.00 price target on the biotechnology company’s stock. Credit Suisse Group’s price target suggests a potential upside of 92.20% from the company’s current price.

Several other research firms have also issued reports on AXON. Northland Securities reduced their target price on Axon Enterprise from $220.00 to $180.00 in a report on Monday, February 28th. Zacks Investment Research raised Axon Enterprise from a “sell” rating to a “hold” rating in a report on Friday, March 4th. Needham & Company LLC reduced their price objective on Axon Enterprise from $250.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 25th. Robert W. Baird reissued a “buy” rating and set a $175.00 price objective on shares of Axon Enterprise in a report on Friday, February 25th. Finally, JPMorgan Chase & Co. raised Axon Enterprise from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $222.00 to $192.00 in a report on Friday, February 25th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise currently has a consensus rating of “Buy” and a consensus target price of $190.67.

AXON traded down $8.06 during midday trading on Monday, reaching $87.93. 26,215 shares of the company were exchanged, compared to its average volume of 458,940. The company’s fifty day moving average price is $127.34 and its 200 day moving average price is $144.66. The company has a market cap of $6.24 billion, a price-to-earnings ratio of -88.82 and a beta of 0.55. Axon Enterprise has a one year low of $94.80 and a one year high of $209.00.

Axon Enterprise (NASDAQ:AXONGet Rating) last released its earnings results on Thursday, February 24th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The business had revenue of $217.58 million during the quarter, compared to the consensus estimate of $202.65 million. Axon Enterprise had a negative net margin of 6.95% and a negative return on equity of 5.62%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 earnings per share. On average, sell-side analysts forecast that Axon Enterprise will post 0.83 EPS for the current year.

In related news, CFO Jawad A. Ahsan sold 4,840 shares of the stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $141.17, for a total value of $683,262.80. Following the sale, the chief financial officer now owns 360,019 shares in the company, valued at $50,823,882.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.90% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Prospera Financial Services Inc purchased a new stake in shares of Axon Enterprise in the first quarter worth $27,000. Assetmark Inc. bought a new position in Axon Enterprise in the third quarter valued at $35,000. Retirement Planning Co of New England Inc. bought a new position in Axon Enterprise in the fourth quarter valued at $31,000. Tyler Stone Wealth Management bought a new position in Axon Enterprise in the fourth quarter valued at $32,000. Finally, Sageworth Trust Co of South Dakota bought a new position in Axon Enterprise in the fourth quarter valued at $37,000. Institutional investors own 72.06% of the company’s stock.

About Axon Enterprise (Get Rating)

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, TASER, and Software and Sensors. 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.

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