Axon Enterprise (NASDAQ:AXON) Given New $840.00 Price Target at UBS Group

Axon Enterprise (NASDAQ:AXON) had its target price lifted by UBS Group from $820.00 to $840.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

A number of other equities research analysts have also 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 report on Friday, July 11th. Wolfe Research assumed coverage on shares of Axon Enterprise in a report on Monday, July 7th. They issued an “outperform” rating on the stock. JMP Securities upped their price objective on shares of Axon Enterprise from $725.00 to $825.00 and gave the company a “market outperform” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group boosted their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Finally, Needham & Company LLC increased their price target on Axon Enterprise from $820.00 to $870.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $810.38.

Axon Enterprise Trading Up 16.4%

Shares of AXON opened at $867.12 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.62 and a current ratio of 2.83. The company has a market cap of $67.51 billion, a price-to-earnings ratio of 214.10, a PEG ratio of 83.03 and a beta of 1.36. The stock has a fifty day moving average price of $767.23 and a two-hundred day moving average price of $659.73. Axon Enterprise has a 52-week low of $286.19 and a 52-week high of $885.92.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 7.10%. Axon Enterprise’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 earnings per share. Analysts predict that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, Director Michael Garnreiter sold 5,913 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the sale, the director owned 17,740 shares in the company, valued at approximately $13,482,400. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer H. Mak sold 75 shares of Axon Enterprise stock in a transaction on Friday, June 13th. The stock was sold at an average price of $771.81, for a total transaction of $57,885.75. Following the transaction, the chief accounting officer owned 15,240 shares in the company, valued at $11,762,384.40. This represents a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,642 shares of company stock worth $25,090,528. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently bought and sold shares of AXON. Westside Investment Management Inc. increased its position in Axon Enterprise by 4.8% in the second quarter. Westside Investment Management Inc. now owns 283 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 13 shares during the last quarter. CVA Family Office LLC increased its stake in Axon Enterprise by 26.9% in the 2nd quarter. CVA Family Office LLC now owns 66 shares of the biotechnology company’s stock worth $55,000 after buying an additional 14 shares during the period. LaSalle St. Investment Advisors LLC boosted its holdings in shares of Axon Enterprise by 2.1% in the first quarter. LaSalle St. Investment Advisors LLC now owns 777 shares of the biotechnology company’s stock valued at $408,000 after purchasing an additional 16 shares during the period. Hemington Wealth Management lifted its holdings in shares of Axon Enterprise by 70.8% in the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after buying an additional 17 shares during the period. Finally, Washington Trust Advisors Inc. grew its holdings in Axon Enterprise by 44.7% during the 2nd quarter. Washington Trust Advisors Inc. now owns 55 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 17 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

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.