Piper Sandler Issues Positive Forecast for Axon Enterprise (NASDAQ:AXON) Stock Price

Axon Enterprise (NASDAQ:AXON) had its target price increased by investment analysts at Piper Sandler from $674.00 to $724.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price would indicate a potential upside of 27.96% from the stock’s previous close.

Several other research firms have also issued reports on AXON. The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a research report on Thursday, May 7th. Citizens Jmp reiterated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Weiss Ratings upgraded shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Needham & Company LLC boosted their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Morgan Stanley set a $600.00 target price on Axon Enterprise in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $725.25.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $565.80 on Monday. Axon Enterprise has a fifty-two week low of $339.01 and a fifty-two week high of $885.91. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $45.60 billion, a P/E ratio of 227.23, a P/E/G ratio of 11.54 and a beta of 1.38. The stock has a 50-day simple moving average of $457.90 and a 200 day simple moving average of $482.95.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same quarter in the previous year, the company posted $1.47 EPS. The business’s revenue was up 33.7% compared to the same quarter last year. On average, sell-side analysts expect that Axon Enterprise will post 1.63 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $643.79, for a total value of $6,437,900.00. Following the transaction, the chief executive officer directly owned 3,040,997 shares in the company, valued at approximately $1,957,763,458.63. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Caitlin Elizabeth Kalinowski sold 564 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $478.97, for a total transaction of $270,139.08. Following the sale, the director owned 3,632 shares of the company’s stock, valued at $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,989 shares of company stock valued at $30,527,983 in the last three months. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

Several hedge funds have recently modified their holdings of the business. Creative Financial Designs Inc. ADV bought a new position in Axon Enterprise during the fourth quarter worth $28,000. Sound Income Strategies LLC raised its stake in Axon Enterprise by 550.0% during the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. Camelot Portfolios LLC bought a new stake in Axon Enterprise in the 4th quarter valued at $30,000. AlphaCentric Advisors LLC bought a new stake in Axon Enterprise in the 4th quarter valued at $34,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Axon Enterprise in the 4th quarter worth $35,000. 79.08% of the stock is owned by institutional investors.

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.