Axon Enterprise (NASDAQ:AXON) Hits New 12-Month High – Still a Buy?

Shares of Axon Enterprise, Inc. (NASDAQ:AXON) hit a new 52-week high on Wednesday . The stock traded as high as $462.29 and last traded at $458.77, with a volume of 20670 shares traded. The stock had previously closed at $441.09.

Analysts Set New Price Targets

A number of brokerages have issued reports on AXON. Needham & Company LLC boosted their price target on shares of Axon Enterprise from $400.00 to $525.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barclays lifted their price objective 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 assumed coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $385.00 target price for the company. Robert W. Baird increased their price objective on Axon Enterprise from $440.00 to $460.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Bank of America assumed coverage on Axon Enterprise in a report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $392.85.

Axon Enterprise Stock Performance

The firm’s 50 day moving average is $405.32 and its 200-day moving average is $343.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.52 and a current ratio of 2.88. The firm has a market cap of $34.36 billion, a price-to-earnings ratio of 116.38, a price-to-earnings-growth ratio of 10.99 and a beta of 0.94.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.18. Axon Enterprise had a return on equity of 9.34% and a net margin of 16.06%. The company had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $478.35 million. During the same period in the prior year, the business earned $0.80 earnings per share. Axon Enterprise’s revenue for the quarter was up 34.5% compared to the same quarter last year. Sell-side analysts anticipate that Axon Enterprise, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Axon Enterprise

In other news, CFO Brittany Bagley sold 4,338 shares of Axon Enterprise stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $378.95, for a total value of $1,643,885.10. Following the completion of the sale, the chief financial officer now directly owns 98,825 shares of the company’s stock, valued at approximately $37,449,733.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Joshua Isner sold 25,811 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $359.84, for a total transaction of $9,287,830.24. Following the completion of the transaction, the president now directly owns 228,166 shares of the company’s stock, valued at $82,103,253.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brittany Bagley sold 4,338 shares of Axon Enterprise stock in a transaction that occurred 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 sale, the chief financial officer now owns 98,825 shares in the company, valued at $37,449,733.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,172 shares of company stock worth $137,000,162 over the last three months. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently bought and sold shares of the business. Avantax Advisory Services Inc. lifted its position in Axon Enterprise by 0.8% during the first quarter. Avantax Advisory Services Inc. now owns 5,302 shares of the biotechnology company’s stock worth $1,659,000 after purchasing an additional 40 shares during the period. Foundations Investment Advisors LLC acquired a new position in shares of Axon Enterprise in the 3rd quarter worth approximately $221,000. Sequoia Financial Advisors LLC boosted its position in Axon Enterprise by 4.9% during the third quarter. Sequoia Financial Advisors LLC now owns 1,727 shares of the biotechnology company’s stock valued at $690,000 after acquiring an additional 81 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Axon Enterprise during the first quarter worth approximately $931,000. Finally, Zurich Insurance Group Ltd FI raised its holdings in shares of Axon Enterprise by 1.9% during the second quarter. Zurich Insurance Group Ltd FI now owns 205,015 shares of the biotechnology company’s stock valued at $60,324,000 after purchasing an additional 3,832 shares during the period. 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.