JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise (NASDAQ:AXON) had its target price raised by analysts at JPMorgan Chase & Co. from $730.00 to $850.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 12.42% from the company’s current price.

A number of other brokerages have also recently commented on AXON. Morgan Stanley set a $885.00 price objective on shares of Axon Enterprise and gave the stock an “overweight” rating in a research note on Friday, July 11th. Needham & Company LLC lifted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Barclays boosted their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Bank of America upped their target price on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group increased their price target on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average target price of $763.75.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $756.09 on Thursday. Axon Enterprise has a 52 week low of $279.02 and a 52 week high of $830.21. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $58.86 billion, a P/E ratio of 182.63, a PEG ratio of 85.86 and a beta of 1.29. The company has a 50 day moving average price of $763.54 and a 200 day moving average price of $645.61.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The company had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period last year, the firm posted $1.15 EPS. Axon Enterprise’s revenue for the quarter was up 31.3% compared to the same quarter last year. Sell-side analysts expect that Axon Enterprise will post 5.8 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, CFO Brittany Bagley sold 3,400 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the sale, the chief financial officer directly owned 131,833 shares in the company, valued at approximately $92,283,100. The trade was a 2.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua Isner sold 9,905 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $738.03, for a total transaction of $7,310,187.15. Following the completion of the transaction, the president owned 298,809 shares in the company, valued at approximately $220,530,006.27. This trade represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,642 shares of company stock valued at $30,500,428. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Axon Enterprise by 2.2% in the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock valued at $4,540,005,000 after buying an additional 185,571 shares during the period. Geode Capital Management LLC grew its position in shares of Axon Enterprise by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after buying an additional 65,097 shares in the last quarter. Capital World Investors grew its position in shares of Axon Enterprise by 86.4% during the fourth quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock worth $1,079,145,000 after buying an additional 841,772 shares in the last quarter. Alliancebernstein L.P. increased its stake in Axon Enterprise by 15.9% during the first quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company’s stock valued at $675,812,000 after purchasing an additional 175,890 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock valued at $487,977,000 after purchasing an additional 212,931 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.