Axon Enterprise (NASDAQ:AXON) Stock Rating Upgraded by Zacks Research

Axon Enterprise (NASDAQ:AXON) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. Morgan Stanley raised their price target on Axon Enterprise from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. Citizens Jmp reiterated a “market outperform” rating and set a $700.00 price objective on shares of Axon Enterprise in a research note on Thursday, June 25th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $715.00 target price on shares of Axon Enterprise in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $721.57.

Axon Enterprise Stock Up 1.7%

AXON stock opened at $418.62 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.80 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $34.01 billion, a PE ratio of 173.70, a PEG ratio of 7.75 and a beta of 1.44. Axon Enterprise has a 1-year low of $339.01 and a 1-year high of $764.02. The business’s 50 day simple moving average is $525.20 and its 200 day simple moving average is $477.86.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million for the quarter, compared to analysts’ expectations of $876.42 million. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The business’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. As a group, research analysts anticipate that Axon Enterprise will post 2.12 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other news, President Joshua Isner sold 16,775 shares of Axon Enterprise stock in a transaction on Monday, August 31st. The shares were sold at an average price of $574.43, for a total transaction of $9,636,063.25. Following the transaction, the president owned 296,974 shares in the company, valued at approximately $170,590,774.82. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the transaction, the chief executive officer directly owned 3,118,012 shares in the company, valued at $1,587,036,927.88. The trade was a 0.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 47,397 shares of company stock valued at $26,722,984 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AXON. Keating Financial Advisory Services Inc. bought a new position in shares of Axon Enterprise during the 2nd quarter worth about $31,000. Washington Trust Advisors Inc. raised its stake in Axon Enterprise by 1,300.0% during the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock worth $39,000 after buying an additional 65 shares during the period. Delos Wealth Advisors LLC bought a new position in Axon Enterprise in the second quarter worth approximately $45,000. Owl Creek Wealth Partners LLC grew its stake in Axon Enterprise by 84.8% in the second quarter. Owl Creek Wealth Partners LLC now owns 85 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 39 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Axon Enterprise during the second quarter worth approximately $80,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected systems for public safety and law enforcement agencies. Its product portfolio includes TASER conducted energy weapons, body-worn cameras, in-car cameras and other recording devices designed to support safer interactions, improve accountability and document incidents.

The company also provides cloud-based software for managing digital evidence, reports, records and agency operations. Its Axon platform connects hardware with services such as evidence management, real-time operations, computer-aided dispatch and other workflow tools, enabling agencies to store, organize and share information across their organizations.

Founded in 1993 as AIR TASER by Rick Smith and Tom Smith, the company later operated as TASER International before adopting the name Axon Enterprise in 2017.