Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year High After Analyst Upgrade

Posted by Defense World Staff on Apr 12th, 2024

Axon Enterprise, Inc. (NASDAQ:AXON – Get Free Report) hit a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $330.00 to $365.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Axon Enterprise traded as high as $329.87 and last traded at $328.11, with a volume of 460440 shares. The stock had previously closed at $318.26.

Other analysts also recently issued research reports about the stock. Barclays raised their price target on shares of Axon Enterprise from $296.00 to $308.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC raised their price target on shares of Axon Enterprise from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Argus began coverage on shares of Axon Enterprise in a report on Wednesday, March 13th. They set a “buy” rating and a $380.00 price target for the company. Finally, 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. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $312.64.

Check Out Our Latest Research Report on Axon Enterprise

Hedge Funds Weigh In On Axon Enterprise

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $26,000. BKM Wealth Management LLC purchased a new position in Axon Enterprise in the 4th quarter valued at approximately $32,000. Hollencrest Capital Management purchased a new position in Axon Enterprise in the 1st quarter valued at approximately $29,000. Rise Advisors LLC boosted its position in Axon Enterprise by 49.0% in the 1st quarter. Rise Advisors LLC now owns 143 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 47 shares during the period. Finally, Key Financial Inc boosted its position in Axon Enterprise by 367.6% in the 4th quarter. Key Financial Inc now owns 159 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00. The company has a market cap of $24.46 billion, a PE ratio of 140.91 and a beta of 0.93. The company’s 50-day simple moving average is $296.35 and its 200 day simple moving average is $253.55.

Axon Enterprise (NASDAQ:AXON – Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share 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 business had revenue of $432.14 million for the quarter, compared to analyst estimates of $418.97 million. On average, sell-side analysts predict that Axon Enterprise, Inc. will post 2.43 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

(Get Free Report)

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.

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