Axon Enterprise (NASDAQ:AXON) Price Target Raised to $310.00

Axon Enterprise (NASDAQ:AXON) had its target price raised by Morgan Stanley from $285.00 to $310.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

AXON has been the subject of a number of other reports. Needham & Company LLC reissued a buy rating and issued a $400.00 target price on shares of Axon Enterprise in a report on Wednesday, April 24th. The Goldman Sachs Group increased their price objective on Axon Enterprise from $297.00 to $339.00 and gave the company a buy rating in a report on Wednesday, February 28th. William Blair reaffirmed an outperform rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Barclays raised their price target on shares of Axon Enterprise from $296.00 to $308.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Finally, Argus initiated coverage on Axon Enterprise in a research report on Wednesday, March 13th. They set a buy rating and a $380.00 price target for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $314.91.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $313.30 on Friday. The company has a 50 day simple moving average of $305.09 and a two-hundred day simple moving average of $262.90. Axon Enterprise has a fifty-two week low of $175.37 and a fifty-two week high of $329.87. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of 136.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.48 by $0.29. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The company had revenue of $432.14 million for the quarter, compared to the consensus estimate of $418.97 million. Analysts expect that Axon Enterprise will post 2.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Axon Enterprise

A number of hedge funds and other institutional investors have recently modified their holdings of AXON. Westfield Capital Management Co. LP increased its stake in Axon Enterprise by 184.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company’s stock worth $138,535,000 after purchasing an additional 451,350 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Axon Enterprise by 18.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 104,587 shares of the biotechnology company’s stock worth $27,019,000 after acquiring an additional 16,230 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Axon Enterprise in the fourth quarter worth about $32,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Axon Enterprise by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 147,345 shares of the biotechnology company’s stock valued at $29,320,000 after purchasing an additional 495 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at approximately $39,907,000. 79.08% of the stock is currently owned by institutional investors.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.