Raymond James Financial Reaffirms Outperform Rating for Axon Enterprise (NASDAQ:AXON)

Axon Enterprise (NASDAQ:AXON)‘s stock had its “outperform” rating restated by Raymond James Financial in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $855.00 price objective on the biotechnology company’s stock, up from their prior price objective of $645.00. Raymond James Financial’s target price would suggest a potential downside of 1.00% from the stock’s previous close.

Several other research firms have also recently issued reports on AXON. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an “overweight” rating in a research report on Friday, July 11th. Barclays upped their price objective on Axon Enterprise from $726.00 to $735.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Needham & Company LLC set a $870.00 price objective on Axon Enterprise and gave the company a “buy” rating in a research note on Tuesday. Bank of America boosted their target price on Axon Enterprise from $750.00 to $895.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, Wolfe Research assumed coverage on Axon Enterprise in a research report on Monday, July 7th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $837.69.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $863.65 on Tuesday. The business has a fifty day moving average price of $769.48 and a two-hundred day moving average price of $661.14. Axon Enterprise has a fifty-two week low of $323.89 and a fifty-two week high of $885.91. The stock has a market capitalization of $67.24 billion, a PE ratio of 213.25, a P/E/G ratio of 96.66 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.62.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.58. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. During the same period in the previous year, the business earned $1.20 EPS. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. As a group, equities analysts predict that Axon Enterprise will post 5.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In related news, CRO Cameron Brooks sold 3,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $740.76, for a total value of $2,222,280.00. Following the completion of the sale, the executive directly owned 19,447 shares of the company’s stock, valued at approximately $14,405,559.72. This represents a 13.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brittany Bagley sold 3,400 shares of Axon Enterprise stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $700.00, for a total value of $2,380,000.00. Following the sale, the chief financial officer owned 131,833 shares of the company’s stock, valued at approximately $92,283,100. This trade represents a 2.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,642 shares of company stock worth $25,090,528 over the last ninety days. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AXON. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Axon Enterprise in the first quarter worth approximately $1,110,000. Quotient Wealth Partners LLC acquired a new position in Axon Enterprise in the first quarter worth approximately $438,000. CX Institutional acquired a new position in shares of Axon Enterprise during the first quarter valued at about $115,000. GAMMA Investing LLC increased its position in shares of Axon Enterprise by 11.8% during the first quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock worth $765,000 after acquiring an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Axon Enterprise by 5.1% during the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company’s stock worth $494,000 after buying an additional 46 shares during 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.