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

Axon Enterprise (NASDAQ:AXON)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $400.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 32.64% from the company’s current price.

Other analysts also recently issued research reports about the stock. JMP Securities increased their price objective on shares of Axon Enterprise from $250.00 to $285.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. increased their target price on Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley increased their target price on Axon Enterprise from $250.00 to $285.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Robert W. Baird increased their target price on Axon Enterprise from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Finally, Argus assumed coverage on Axon Enterprise in a research note on Wednesday, March 13th. They set a “buy” rating and a $380.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $312.64.

Axon Enterprise Trading Up 2.6 %

Shares of AXON stock opened at $301.56 on Wednesday. The firm’s 50-day simple moving average is $302.15 and its 200-day simple moving average is $260.29. The firm has a market cap of $22.76 billion, a P/E ratio of 131.11 and a beta of 0.93. Axon Enterprise has a 1-year low of $175.37 and a 1-year 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.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Brookstone Capital Management increased its holdings in shares of Axon Enterprise by 5.1% during the first quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 41 shares during the period. HB Wealth Management LLC increased its holdings in shares of Axon Enterprise by 3.9% during the fourth quarter. HB Wealth Management LLC now owns 1,139 shares of the biotechnology company’s stock valued at $294,000 after purchasing an additional 43 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Axon Enterprise by 1.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,997 shares of the biotechnology company’s stock valued at $1,033,000 after purchasing an additional 43 shares during the period. UMB Bank n.a. increased its holdings in shares of Axon Enterprise by 11.0% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 44 shares during the period. Finally, CWM LLC grew its holdings in Axon Enterprise by 1.8% during the third quarter. CWM LLC now owns 2,669 shares of the biotechnology company’s stock worth $531,000 after acquiring an additional 46 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

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.