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

Needham & Company LLC reissued their buy rating on shares of Axon Enterprise (NASDAQ:AXON) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $400.00 price objective on the biotechnology company’s stock.

A number of other brokerages also recently commented on AXON. Robert W. Baird increased their price target on shares of Axon Enterprise from $260.00 to $300.00 and gave the company an outperform rating in a report on Thursday, February 22nd. Morgan Stanley increased their price objective on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock an equal weight rating in a research report on Wednesday, February 28th. JMP Securities increased their price objective on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock a market outperform rating in a research report on Tuesday, February 6th. Barclays increased their price objective on shares of Axon Enterprise from $296.00 to $308.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Axon Enterprise currently has a consensus rating of Moderate Buy and an average target price of $314.91.

Axon Enterprise Stock Up 0.6 %

AXON opened at $308.23 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 3.00 and a debt-to-equity ratio of 0.42. Axon Enterprise has a 52 week low of $175.37 and a 52 week high of $329.87. The firm has a 50-day simple moving average of $304.22 and a two-hundred day simple moving average of $261.92. The company has a market capitalization of $23.26 billion, a PE ratio of 134.01 and a beta of 0.93.

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

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors have recently modified their holdings of AXON. Planned Solutions Inc. purchased a new position in Axon Enterprise during the first quarter valued at approximately $366,000. UMB Bank n.a. increased its holdings in Axon Enterprise by 3,924.5% during the first quarter. UMB Bank n.a. now owns 17,869 shares of the biotechnology company’s stock valued at $5,591,000 after buying an additional 17,425 shares during the period. YHB Investment Advisors Inc. purchased a new position in Axon Enterprise during the first quarter valued at approximately $125,000. SYSTM Wealth Solutions LLC increased its holdings in Axon Enterprise by 2,359.5% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,066 shares of the biotechnology company’s stock valued at $646,000 after buying an additional 1,982 shares during the period. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Axon Enterprise during the first quarter valued at approximately $442,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.