Axon Enterprise (NASDAQ:AXON) Trading 6.4% Higher – What’s Next?

Axon Enterprise, Inc (NASDAQ:AXON) traded up 6.4% during trading on Tuesday . The company traded as high as $432.60 and last traded at $436.4450. 97,849 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,079,736 shares. The stock had previously closed at $410.03.

Key Stories Impacting Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon’s president said the company’s counter-drone platform, Dedrone, has already generated more bookings than its acquisition price, reinforcing the view that the deal is paying off and that Axon’s expansion into drone defense is gaining traction. Axon (AXON) Stock Trades Up, Here Is Why
• Positive Sentiment: Investors are also reacting to Axon’s growing AI story, with commentary highlighting that the company can offer AI upside without the heavy infrastructure spending required by many large AI names. Axon Offers AI Upside Without the Infrastructure Gamble
• Positive Sentiment: Recent articles continue to emphasize Axon’s strong Q1 results, raised full-year revenue outlook, and expanding AI-powered public safety platform, which supports the bullish case for future growth and recurring software revenue. Does Axon’s Upgraded Outlook and AI Push Reshape The Bull Case For Axon Enterprise (AXON)?
• Neutral Sentiment: Axon was also featured in industry outlook pieces alongside other aerospace-defense names, keeping the stock in view but without a new direct catalyst. Zacks Industry Outlook HEICO, Axon and AAR
• Negative Sentiment: A separate article raised questions about Axon’s Scottsdale development plans and political ties, which could create some reputational or governance overhang for investors. Axon (AXON) Faces Questions Over Scottsdale Election Ties And Development Project

Wall Street Analyst Weigh In

Several research analysts have commented on AXON shares. Barclays lowered their target price on Axon Enterprise from $682.00 to $523.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. TD Cowen reduced their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a report on Thursday, May 7th. Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Axon Enterprise from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $712.75.

Axon Enterprise Trading Up 5.5%

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 company has a market cap of $36.81 billion, a P/E ratio of 183.43, a price-to-earnings-growth ratio of 7.87 and a beta of 1.45. The firm’s 50-day moving average price is $418.11 and its 200-day moving average price is $482.95.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. The business had revenue of $807.35 million during the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 EPS. As a group, equities research analysts expect that Axon Enterprise, Inc will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the sale, the insider directly owned 34,024 shares in the company, valued at approximately $16,501,640. The trade was a 4.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Joshua Isner sold 13,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president directly owned 169,125 shares in the company, valued at $82,609,106.25. This trade represents a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 38,989 shares of company stock valued at $19,090,083 over the last quarter. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Brighton Jones LLC bought a new position in Axon Enterprise during the 4th quarter valued at approximately $480,000. NewEdge Advisors LLC raised its stake in Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock worth $1,207,000 after buying an additional 668 shares in the last quarter. Empowered Funds LLC raised its stake in Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 157 shares in the last quarter. Woodline Partners LP lifted its holdings in Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in Axon Enterprise during the 2nd quarter valued at approximately $284,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.