Axon Enterprise (NASDAQ:AXON) Trading 7.6% Higher – What’s Next?

Axon Enterprise, Inc (NASDAQ:AXON) shot up 7.6% during trading on Thursday . The company traded as high as $416.19 and last traded at $420.9350. 115,503 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,064,069 shares. The stock had previously closed at $391.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXON shares. Robert W. Baird set a $800.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. William Blair restated an “outperform” rating on shares of Axon Enterprise in a research report on Tuesday, February 3rd. Weiss Ratings raised Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Citizens Jmp decreased their price objective on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Finally, Craig Hallum reiterated a “buy” rating and issued a $820.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $712.75.

Axon Enterprise Price Performance

The company has a market cap of $36.17 billion, a price-to-earnings ratio of 180.21, a PEG ratio of 7.99 and a beta of 1.44. The company’s 50 day moving average price is $407.53 and its 200 day moving average price is $494.65. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. The business had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.47 earnings per share. Equities research analysts forecast that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Jennifer H. Mak sold 1,500 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares of the company’s stock, valued at approximately $7,019,028. This represents a 10.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Erika Nardini sold 198 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the sale, the director directly owned 1,946 shares of the company’s stock, valued at $985,804.68. This represents a 9.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,855 shares of company stock worth $1,837,408. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the 4th quarter worth $480,000. NewEdge Advisors LLC increased its holdings in shares of Axon Enterprise by 41.1% in the 1st quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 668 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after purchasing an additional 157 shares during the period. Woodline Partners LP lifted its stake in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after purchasing an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in Axon Enterprise during the second quarter worth about $284,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

About Axon Enterprise

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.