Axon Enterprise (NASDAQ:AXON) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a research report sent to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a $870.00 price objective on the biotechnology company’s stock.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Northland Securities set a $800.00 price objective on Axon Enterprise in a research note on Tuesday, August 5th. Craig Hallum upgraded Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 target price on the stock in a research note on Tuesday, August 5th. Piper Sandler initiated coverage on Axon Enterprise in a report on Tuesday. They issued an “overweight” rating and a $893.00 price target on the stock. Finally, UBS Group reissued a “neutral” rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and a consensus price target of $841.64.

Axon Enterprise Trading Down 10.2%

Shares of AXON opened at $698.02 on Wednesday. Axon Enterprise has a twelve month low of $388.37 and a twelve month high of $885.91. The stock has a market cap of $54.80 billion, a PE ratio of 172.35, a P/E/G ratio of 28.54 and a beta of 1.40. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $760.22 and its 200-day moving average price is $698.97.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.58. The company had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. Axon Enterprise’s revenue was up 32.6% compared to the same quarter last year. During the same period last year, the business earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Axon Enterprise will post 5.8 EPS for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, insider Jeffrey C. Kunins sold 7,891 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the completion of the sale, the insider owned 144,538 shares in the company, valued at $108,417,953.80. The trade was a 5.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hadi Partovi purchased 1,358 shares of Axon Enterprise stock in a transaction on Wednesday, August 13th. The shares were acquired at an average price of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the transaction, the director directly owned 237,938 shares of the company’s stock, valued at approximately $176,074,120. The trade was a 0.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 44,932 shares of company stock worth $34,408,816. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

A number of institutional investors have recently made changes to their positions in the business. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Axon Enterprise in the 1st quarter worth $1,110,000. Quotient Wealth Partners LLC bought a new stake in shares of Axon Enterprise in the 1st quarter valued at about $438,000. CX Institutional purchased a new stake in Axon Enterprise during the 1st quarter valued at about $115,000. GAMMA Investing LLC grew its position in Axon Enterprise by 11.8% during the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company’s stock worth $765,000 after acquiring an additional 154 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in Axon Enterprise by 5.1% in the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company’s stock worth $494,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.