Axon Enterprise (NASDAQ:AXON) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a report issued on Tuesday morning, Benzinga reports. The firm currently has a $400.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also commented on AXON. StockNews.com lowered shares of Axon Enterprise from a buy rating to a hold rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. increased their price target on Axon Enterprise from $330.00 to $365.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Argus started coverage on Axon Enterprise in a report on Wednesday, March 13th. They set a buy rating and a $380.00 price target on the stock. Barclays upped their price objective on shares of Axon Enterprise from $296.00 to $308.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Finally, Morgan Stanley raised their target price on shares of Axon Enterprise from $285.00 to $310.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise presently has a consensus rating of Moderate Buy and an average price target of $333.08.

Axon Enterprise Trading Down 0.9 %

NASDAQ:AXON opened at $309.09 on Tuesday. Axon Enterprise has a 12-month low of $175.37 and a 12-month high of $329.87. 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 50 day simple moving average of $310.86 and a 200 day simple moving average of $267.73. The firm has a market capitalization of $23.32 billion, a P/E ratio of 90.38 and a beta of 0.91.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Monday, May 6th. The biotechnology company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.20. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The company had revenue of $460.74 million during the quarter, compared to the consensus estimate of $441.57 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. Equities research analysts predict that Axon Enterprise will post 2.44 EPS for the current year.

Institutional Trading of Axon Enterprise

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