Axon Enterprise (NASDAQ:AXON) Given New $895.00 Price Target at Bank of America

Axon Enterprise (NASDAQ:AXON) had its price objective boosted by Bank of America from $750.00 to $895.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities research analysts have also weighed in on AXON. Barclays upped their price objective on Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Needham & Company LLC upped their price objective on Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. The Goldman Sachs Group upped their price objective on Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. JMP Securities reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Finally, Craig Hallum lowered Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and an average target price of $699.55.

Axon Enterprise Trading Up 2.8%

Shares of AXON opened at $780.00 on Wednesday. Axon Enterprise has a 12-month low of $276.23 and a 12-month high of $780.62. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $60.72 billion, a price-to-earnings ratio of 201.55, a P/E/G ratio of 5.17 and a beta of 1.24. The stock’s 50-day moving average price is $633.63 and its 200 day moving average price is $613.89.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Axon Enterprise had a return on equity of 7.50% and a net margin of 15.37%. The firm had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. During the same period in the previous year, the company posted $1.15 earnings per share. The company’s quarterly revenue was up 31.3% compared to the same quarter last year. As a group, research analysts predict that Axon Enterprise will post 5.8 earnings per share for the current year.

Insider Buying and Selling

In other Axon Enterprise news, Director Michael Garnreiter sold 87 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.00, for a total transaction of $66,120.00. Following the transaction, the director now owns 24,653 shares of the company’s stock, valued at approximately $18,736,280. This represents a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $540.99, for a total value of $5,409,900.00. Following the transaction, the chief executive officer now directly owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,969 shares of company stock worth $29,909,594 in the last three months. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Savant Capital LLC lifted its holdings in Axon Enterprise by 5.7% during the 4th quarter. Savant Capital LLC now owns 1,080 shares of the biotechnology company’s stock worth $642,000 after buying an additional 58 shares in the last quarter. Principal Securities Inc. lifted its holdings in Axon Enterprise by 255.7% during the 4th quarter. Principal Securities Inc. now owns 1,085 shares of the biotechnology company’s stock worth $645,000 after buying an additional 780 shares in the last quarter. Empowered Funds LLC lifted its holdings in Axon Enterprise by 89.2% during the 4th quarter. Empowered Funds LLC now owns 1,871 shares of the biotechnology company’s stock worth $1,112,000 after buying an additional 882 shares in the last quarter. Xponance Inc. lifted its holdings in Axon Enterprise by 3.5% during the 4th quarter. Xponance Inc. now owns 16,469 shares of the biotechnology company’s stock worth $9,788,000 after buying an additional 560 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in Axon Enterprise during the 4th quarter worth $480,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

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.