Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year High – Should You Buy?

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $441.33 and last traded at $441.24, with a volume of 152275 shares changing hands. The stock had previously closed at $438.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AXON shares. 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 upped their price target on shares of Axon Enterprise from $375.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Barclays upped their price target on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price target on the stock. Finally, Robert W. Baird upped their price target on shares of Axon Enterprise from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $365.38.

Axon Enterprise Price Performance

The firm has a market cap of $33.55 billion, a price-to-earnings ratio of 116.70, a price-to-earnings-growth ratio of 11.74 and a beta of 0.94. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average is $388.71 and its 200-day moving average is $331.95.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating the consensus estimate 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 16.06% and a return on equity of 9.34%. The firm’s revenue was up 34.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. Equities research analysts predict that Axon Enterprise, Inc. will post 1.79 earnings per share for the current year.

Insider Activity

In other news, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total transaction of $437,980.00. Following the completion of the transaction, the director now owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brittany Bagley sold 4,338 shares of Axon Enterprise stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $378.95, for a total transaction of $1,643,885.10. Following the completion of the transaction, the chief financial officer now owns 98,825 shares of the company’s stock, valued at $37,449,733.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now directly owns 26,259 shares of the company’s stock, valued at $11,500,916.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 371,172 shares of company stock valued at $137,000,162. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Axon Enterprise

A number of large investors have recently bought and sold shares of the stock. Mather Group LLC. grew its holdings in Axon Enterprise by 3.7% in the third quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock worth $303,000 after purchasing an additional 27 shares during the period. CWM LLC grew its holdings in shares of Axon Enterprise by 1.3% during the third quarter. CWM LLC now owns 2,856 shares of the biotechnology company’s stock valued at $1,141,000 after buying an additional 36 shares during the last quarter. SPC Financial Inc. grew its holdings in shares of Axon Enterprise by 2.2% during the third quarter. SPC Financial Inc. now owns 1,773 shares of the biotechnology company’s stock valued at $708,000 after buying an additional 38 shares during the last quarter. Dorsey Wright & Associates grew its holdings in shares of Axon Enterprise by 0.3% during the second quarter. Dorsey Wright & Associates now owns 14,053 shares of the biotechnology company’s stock valued at $4,135,000 after buying an additional 39 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Axon Enterprise by 0.8% during the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock valued at $1,659,000 after buying an additional 40 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.