Needham & Company LLC Reiterates Buy Rating for Axon Enterprise (NASDAQ:AXON)

Axon Enterprise (NASDAQ:AXON)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They currently have a $400.00 target price on the biotechnology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 32.64% from the company’s current price.

AXON has been the subject of a number of other research reports. Argus assumed coverage on Axon Enterprise in a report on Wednesday, March 13th. They set a “buy” rating and a $380.00 price target for the company. Morgan Stanley boosted their price objective on Axon Enterprise from $250.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. JMP Securities boosted their price objective on Axon Enterprise from $250.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 6th. Barclays boosted their price objective on Axon Enterprise from $296.00 to $308.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, StockNews.com lowered Axon Enterprise from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.64.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $301.56 on Wednesday. The stock has a market capitalization of $22.76 billion, a PE ratio of 131.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 2.66. The business has a fifty day moving average price of $302.15 and a two-hundred day moving average price of $260.29. Axon Enterprise has a fifty-two week low of $175.37 and a fifty-two week high of $329.87.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.29. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The company had revenue of $432.14 million during the quarter, compared to analysts’ expectations of $418.97 million. As a group, equities analysts predict that Axon Enterprise will post 2.44 earnings per share for the current fiscal year.

Institutional Trading of Axon Enterprise

Institutional investors and hedge funds have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new position in Axon Enterprise during the fourth quarter valued at $26,000. Trivant Custom Portfolio Group LLC bought a new position in Axon Enterprise during the first quarter valued at $31,000. BKM Wealth Management LLC bought a new position in Axon Enterprise during the fourth quarter valued at $32,000. First PREMIER Bank bought a new position in Axon Enterprise during the first quarter valued at $33,000. Finally, Key Financial Inc boosted its holdings in shares of Axon Enterprise by 367.6% in the fourth quarter. Key Financial Inc now owns 159 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 125 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

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.