Needham & Company LLC Reaffirms “Buy” Rating for Axon Enterprise (NASDAQ:AXON)

Needham & Company LLC reiterated their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research note published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $400.00 target price on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the stock. JMP Securities boosted their price objective on shares of Axon Enterprise from $320.00 to $375.00 and gave the company a market outperform rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an overweight rating in a report on Thursday, April 11th. StockNews.com cut Axon Enterprise from a buy rating to a hold rating in a report on Thursday, March 14th. Argus began coverage on Axon Enterprise in a research note on Wednesday, March 13th. They set a buy rating and a $380.00 target price on the stock. Finally, Barclays raised their price target on Axon Enterprise from $296.00 to $308.00 and gave the stock an overweight rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $327.00.

Axon Enterprise Trading Down 4.6 %

NASDAQ AXON opened at $312.73 on Tuesday. The stock has a 50-day moving average of $310.77 and a 200-day moving average of $267.13. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42. Axon Enterprise has a 1-year low of $175.37 and a 1-year high of $329.87. The firm has a market cap of $23.60 billion, a PE ratio of 135.97 and a beta of 0.91.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Monday, May 6th. The biotechnology company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The firm had revenue of $460.74 million during the quarter, compared to analyst estimates of $441.57 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Axon Enterprise will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Axon Enterprise by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,930,905 shares of the biotechnology company’s stock valued at $2,048,791,000 after purchasing an additional 40,435 shares during the last quarter. Sands Capital Management LLC increased its position in Axon Enterprise by 0.6% during 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 buying an additional 16,347 shares in the last quarter. Wellington Management Group LLP raised its stake in Axon Enterprise by 3.3% during the third quarter. Wellington Management Group LLP now owns 1,956,022 shares of the biotechnology company’s stock valued at $389,229,000 after buying an additional 62,324 shares during the last quarter. Norges Bank bought a new stake in Axon Enterprise in the fourth quarter worth $195,406,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Axon Enterprise by 5.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 731,721 shares of the biotechnology company’s stock worth $189,025,000 after acquiring an additional 35,528 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.