Axon Enterprise (NASDAQ:AXON) Stock Rating Reaffirmed by Needham & Company LLC

Axon Enterprise (NASDAQ:AXON)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They currently have a $400.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 30.62% from the company’s previous close.

AXON has been the topic of several other reports. Robert W. Baird increased their price target on Axon Enterprise from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. increased their target price on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley increased their target price on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group increased their target price on shares of Axon Enterprise from $297.00 to $339.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, JMP Securities increased their target price on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.64.

Axon Enterprise Price Performance

NASDAQ AXON opened at $306.24 on Wednesday. The stock’s fifty day moving average price is $302.78 and its 200 day moving average price is $260.58. The company has a market cap of $23.11 billion, a price-to-earnings ratio of 133.15 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. Axon Enterprise has a 1 year low of $175.37 and a 1 year high of $329.87.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.29. The company had revenue of $432.14 million for the quarter, compared to the consensus estimate of $418.97 million. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. As a group, equities research analysts forecast that Axon Enterprise will post 2.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Axon Enterprise in the 4th quarter valued at about $195,406,000. Sands Capital Management LLC raised its holdings in 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 acquiring an additional 619,179 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in Axon Enterprise by 184.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock valued at $138,535,000 after acquiring an additional 451,350 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in Axon Enterprise by 292.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 265,464 shares of the biotechnology company’s stock valued at $52,825,000 after acquiring an additional 197,746 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Axon Enterprise by 28.3% in the 3rd 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 during the last quarter. 79.08% of the stock is owned by hedge funds and other 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.