Barclays Increases Axon Enterprise (NASDAQ:AXON) Price Target to $387.00

Axon Enterprise (NASDAQ:AXON) had its target price raised by stock analysts at Barclays from $381.00 to $387.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective suggests a potential upside of 9.82% from the stock’s current price.

Several other equities analysts have also commented on AXON. Bank of America started coverage on shares of Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $375.00 target price on shares of Axon Enterprise in a research note on Tuesday, May 7th. Craig Hallum increased their target price on shares of Axon Enterprise from $325.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise currently has an average rating of “Moderate Buy” and an average target price of $348.08.

Axon Enterprise Price Performance

NASDAQ:AXON traded up $57.39 on Wednesday, reaching $352.39. The stock had a trading volume of 2,017,757 shares, compared to its average volume of 508,188. Axon Enterprise has a 1-year low of $175.59 and a 1-year high of $367.72. The stock has a fifty day moving average price of $296.14 and a 200-day moving average price of $294.62. The company has a market capitalization of $26.59 billion, a P/E ratio of 103.91, a price-to-earnings-growth ratio of 6.59 and a beta of 0.95. The company has a quick ratio of 2.55, a current ratio of 2.91 and a debt-to-equity ratio of 0.37.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.18. The business had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. Axon Enterprise had a net margin of 15.60% and a return on equity of 11.71%. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. Research analysts forecast that Axon Enterprise will post 2.35 EPS for the current year.

Insider Buying and Selling at Axon Enterprise

In other news, Director Julie A. Cullivan sold 993 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $281.72, for a total value of $279,747.96. Following the completion of the sale, the director now directly owns 4,553 shares of the company’s stock, valued at approximately $1,282,671.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeri Williams sold 308 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $310.07, for a total value of $95,501.56. Following the completion of the sale, the director now owns 1,607 shares of the company’s stock, valued at $498,282.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Julie A. Cullivan sold 993 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $281.72, for a total value of $279,747.96. Following the transaction, the director now directly owns 4,553 shares of the company’s stock, valued at $1,282,671.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,447 shares of company stock worth $27,684,677. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Axon Enterprise

A number of hedge funds have recently modified their holdings of AXON. Norges Bank acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at about $195,406,000. Motley Fool Asset Management LLC grew its holdings in shares of Axon Enterprise by 238.7% during the first quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company’s stock worth $153,981,000 after purchasing an additional 346,838 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Axon Enterprise during the first quarter worth $81,630,000. Vanguard Group Inc. grew its holdings in shares of Axon Enterprise by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company’s stock worth $2,547,878,000 after purchasing an additional 212,401 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Axon Enterprise during the fourth quarter worth $39,907,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.