JPMorgan Chase & Co. Cuts Axon Enterprise (NASDAQ:AXON) Price Target to $750.00

Axon Enterprise (NASDAQ:AXON) had its price target cut by JPMorgan Chase & Co. from $925.00 to $750.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 88.98% from the company’s current price.

Several other research analysts have also recently issued reports on AXON. Piper Sandler cut their target price on Axon Enterprise from $753.00 to $690.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Citigroup reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, February 25th. UBS Group decreased their price target on Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Needham & Company LLC dropped their price target on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Northcoast Research raised Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective on the stock in a research report on Tuesday, January 6th. Sixteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $749.63.

Axon Enterprise Stock Down 1.3%

Shares of NASDAQ:AXON traded down $5.31 during mid-day trading on Thursday, hitting $396.87. 599,463 shares of the company traded hands, compared to its average volume of 1,044,537. The stock has a market cap of $31.91 billion, a P/E ratio of 261.65, a P/E/G ratio of 8.13 and a beta of 1.61. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. Axon Enterprise has a 12-month low of $339.01 and a 12-month high of $885.91. The stock has a 50-day moving average price of $460.43 and a two-hundred day moving average price of $558.53.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.55. The company had revenue of $796.72 million for the quarter, compared to analysts’ expectations of $755.29 million. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.Axon Enterprise’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.08 earnings per share. On average, equities research analysts forecast that Axon Enterprise will post 5.8 earnings per share for the current year.

Insiders Place Their Bets

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total value of $100,302.84. Following the transaction, the director owned 1,946 shares of the company’s stock, valued at approximately $985,804.68. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer H. Mak sold 1,500 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares in the company, valued at approximately $7,019,028. This represents a 10.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,855 shares of company stock valued at $7,109,828. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. lifted its position in shares of Axon Enterprise by 1,198.7% during the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after buying an additional 1,516,099 shares during the last quarter. Edgewood Management LLC purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $846,516,000. Wellington Management Group LLP lifted its position in shares of Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock valued at $874,463,000 after buying an additional 1,179,038 shares during the last quarter. Norges Bank purchased a new position in shares of Axon Enterprise during the 4th quarter valued at $515,764,000. Finally, Vanguard Group Inc. lifted its position in shares of Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after buying an additional 376,904 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 technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.