Axon Enterprise (NASDAQ:AXON) Given New $800.00 Price Target at TD Cowen

Axon Enterprise (NASDAQ:AXON) had its price target lowered by analysts at TD Cowen from $825.00 to $800.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. TD Cowen‘s price target indicates a potential upside of 88.99% from the stock’s previous close.

AXON has been the topic of a number of other reports. Barclays raised their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group reduced their price target on shares of Axon Enterprise from $715.00 to $675.00 and set a “buy” rating for the company in a research report on Monday, September 21st. Morgan Stanley upped their price target on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, Needham & Company LLC reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $688.38.

Axon Enterprise Stock Performance

NASDAQ:AXON traded up $2.93 during mid-day trading on Monday, reaching $423.30. 140,211 shares of the stock were exchanged, compared to its average volume of 1,048,422. The company has a 50 day simple moving average of $480.64 and a 200-day simple moving average of $474.33. The stock has a market capitalization of $34.39 billion, a P/E ratio of 175.49, a P/E/G ratio of 7.99 and a beta of 1.44. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. Axon Enterprise has a 1 year low of $339.01 and a 1 year high of $764.02.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The company had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same quarter in the previous year, the company posted $2.12 earnings per share. The firm’s revenue was up 35.3% compared to the same quarter last year. Analysts anticipate that Axon Enterprise will post 2.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider owned 97,761 shares in the company, valued at approximately $61,266,818.70. This represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total value of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares of the company’s stock, valued at approximately $1,587,036,927.88. This trade represents a 0.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 three months. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axon Enterprise

Several institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Axon Enterprise by 5,700.2% in the 2nd quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company’s stock valued at $119,724,905,000 after purchasing an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company’s stock valued at $7,400,094,000 after purchasing an additional 13,127,348 shares during the period. BlackRock Inc. lifted its stake in shares of Axon Enterprise by 4.3% in the second quarter. BlackRock Inc. now owns 8,334,551 shares of the biotechnology company’s stock valued at $4,672,432,000 after purchasing an additional 345,365 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Axon Enterprise by 391,214.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company’s stock worth $2,952,943,000 after buying an additional 6,987,098 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Axon Enterprise by 5,022.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company’s stock worth $1,802,719,000 after buying an additional 4,183,302 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

About Axon Enterprise

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.