Axon Enterprise (NASDAQ:AXON) Lowered to Equal Weight at Morgan Stanley

Morgan Stanley lowered shares of Axon Enterprise (NASDAQ:AXONGet Rating) from an overweight rating to an equal weight rating in a report published on Monday, MarketBeat.com reports. They currently have $120.00 price objective on the biotechnology company’s stock.

AXON has been the subject of several other reports. JPMorgan Chase & Co. raised shares of Axon Enterprise from a neutral rating to an overweight rating and lowered their price objective for the company from $222.00 to $192.00 in a research note on Friday, February 25th. Northland Securities dropped their price target on Axon Enterprise from $180.00 to $130.00 in a research report on Thursday, May 12th. Needham & Company LLC lowered their price objective on Axon Enterprise from $250.00 to $170.00 and set a buy rating on the stock in a research report on Friday, February 25th. Zacks Investment Research lowered Axon Enterprise from a strong-buy rating to a hold rating in a research note on Thursday, May 19th. Finally, Credit Suisse Group initiated coverage on Axon Enterprise in a report on Monday, May 9th. They issued an outperform rating and a $169.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $165.60.

AXON opened at $98.52 on Monday. The company’s 50-day moving average price is $116.88 and its two-hundred day moving average price is $136.75. Axon Enterprise has a twelve month low of $82.49 and a twelve month high of $209.00. The company has a quick ratio of 2.18, a current ratio of 2.43 and a debt-to-equity ratio of 0.02. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 189.47 and a beta of 0.55.

Axon Enterprise (NASDAQ:AXONGet Rating) last posted its earnings results on Tuesday, May 10th. The biotechnology company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.16. The business had revenue of $256.43 million for the quarter, compared to analyst estimates of $233.57 million. Axon Enterprise had a net margin of 4.62% and a return on equity of 3.90%. Axon Enterprise’s revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.75) EPS. As a group, sell-side analysts anticipate that Axon Enterprise will post 1.35 earnings per share for the current year.

In other Axon Enterprise news, CFO Jawad A. Ahsan sold 4,840 shares of the company’s stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $141.17, for a total transaction of $683,262.80. Following the completion of the sale, the chief financial officer now directly owns 360,019 shares in the company, valued at $50,823,882.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AXON. BlackRock Inc. lifted its stake in Axon Enterprise by 3.4% in the first quarter. BlackRock Inc. now owns 7,615,375 shares of the biotechnology company’s stock valued at $1,048,867,000 after acquiring an additional 248,746 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Axon Enterprise by 1.3% during the fourth quarter. Baillie Gifford & Co. now owns 4,598,695 shares of the biotechnology company’s stock worth $721,995,000 after purchasing an additional 60,037 shares during the last quarter. Capital International Investors raised its stake in shares of Axon Enterprise by 605.2% in the first quarter. Capital International Investors now owns 2,660,634 shares of the biotechnology company’s stock worth $366,449,000 after acquiring an additional 2,283,343 shares during the last quarter. State Street Corp boosted its position in Axon Enterprise by 13.3% in the 1st quarter. State Street Corp now owns 2,220,692 shares of the biotechnology company’s stock valued at $305,856,000 after buying an additional 261,508 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Axon Enterprise by 11.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,477,546 shares of the biotechnology company’s stock worth $231,975,000 after buying an additional 149,915 shares during the period. Institutional investors and hedge funds own 72.06% of the company’s stock.

About Axon Enterprise (Get Rating)

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, TASER, and Software and Sensors. 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.

See Also

Analyst Recommendations for Axon Enterprise (NASDAQ:AXON)

Receive News & Ratings for Axon Enterprise Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axon Enterprise and related companies with MarketBeat.com's FREE daily email newsletter.