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

Axon Enterprise (NASDAQ:AXON) had its target price hoisted by equities researchers at Morgan Stanley from $285.00 to $310.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s price target suggests a potential upside of 0.57% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Wednesday. StockNews.com downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Robert W. Baird upped their price objective on shares of Axon Enterprise from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Barclays upped their price objective on shares of Axon Enterprise from $296.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. upped their price objective 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.91.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $308.23 on Friday. The company has a 50 day moving average of $304.22 and a 200-day moving average of $261.92. Axon Enterprise has a 1-year low of $175.37 and a 1-year high of $329.87. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42. The company has a market cap of $23.26 billion, a PE ratio of 134.01 and a beta of 0.93.

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

Hedge Funds Weigh In On Axon Enterprise

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Axon Enterprise by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,930,905 shares of the biotechnology company’s stock valued at $2,048,791,000 after acquiring an additional 40,435 shares during the period. Sands Capital Management LLC increased its position in Axon Enterprise by 0.6% in the 4th quarter. Sands Capital Management LLC now owns 2,628,652 shares of the biotechnology company’s stock valued at $679,060,000 after acquiring an additional 16,347 shares during the period. Wellington Management Group LLP increased its position in Axon Enterprise by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 1,956,022 shares of the biotechnology company’s stock valued at $389,229,000 after acquiring an additional 62,324 shares during the period. Norges Bank acquired a new position in Axon Enterprise in the 4th quarter valued at approximately $195,406,000. Finally, Westfield Capital Management Co. LP increased its position in Axon Enterprise by 5.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company’s stock valued at $189,025,000 after acquiring an additional 35,528 shares during the period. 79.08% of the stock is currently owned by institutional investors and hedge funds.

About Axon Enterprise

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.