Axon Enterprise (NASDAQ:AXON) Shares Gap Up – What’s Next?

Axon Enterprise, Inc. (NASDAQ:AXON) gapped up before the market opened on Friday . The stock had previously closed at $468.75, but opened at $540.00. Axon Enterprise shares last traded at $525.69, with a volume of 225,117 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on AXON. Needham & Company LLC increased their price objective on Axon Enterprise from $400.00 to $525.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America began coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They issued a “buy” rating and a $380.00 target price on the stock. Craig Hallum boosted their price target on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Axon Enterprise from $385.00 to $441.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Barclays lifted their target price on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $392.85.

Axon Enterprise Stock Up 15.1 %

The firm has a market cap of $40.76 billion, a PE ratio of 138.70, a PEG ratio of 11.70 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 firm has a 50 day moving average price of $409.39 and a 200-day moving average price of $344.81.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.18. Axon Enterprise had a net margin of 16.06% and a return on equity of 9.34%. The company had revenue of $504.00 million during the quarter, compared to the consensus estimate of $478.35 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 34.5% on a year-over-year basis. Research analysts forecast that Axon Enterprise, Inc. will post 1.79 EPS for the current fiscal year.

Insider Activity at Axon Enterprise

In other news, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was 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 directly owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Axon Enterprise news, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julie A. Cullivan sold 900 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $353.53, for a total transaction of $318,177.00. Following the completion of the transaction, the director now owns 3,653 shares of the company’s stock, valued at approximately $1,291,445.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,172 shares of company stock valued at $136,270,842 over the last quarter. 6.10% of the stock is owned by insiders.

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently made changes to their positions in the company. Avantax Advisory Services Inc. increased 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 buying an additional 40 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of Axon Enterprise during the third quarter worth approximately $221,000. Sequoia Financial Advisors LLC increased its holdings in shares of Axon Enterprise by 4.9% in the 3rd 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 period. GSA Capital Partners LLP purchased a new stake in Axon Enterprise in the 1st quarter valued at $931,000. Finally, Zurich Insurance Group Ltd FI boosted its stake in Axon Enterprise by 1.9% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 205,015 shares of the biotechnology company’s stock worth $60,324,000 after purchasing an additional 3,832 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

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.