Robert W. Baird Forecasts Strong Price Appreciation for Axon Enterprise (NASDAQ:AXON) Stock

Axon Enterprise (NASDAQ:AXON) had its price target lifted by Robert W. Baird from $600.00 to $800.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target indicates a potential upside of 15.98% from the company’s current price.

Several other analysts have also weighed in on the company. Northland Securities raised their target price on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. JMP Securities raised their price objective on shares of Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their target price on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their target price 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, Morgan Stanley upgraded shares of Axon Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $500.00 to $700.00 in a research report on Tuesday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $488.67.

Axon Enterprise Stock Up 0.3 %

AXON stock opened at $689.78 on Friday. The firm’s 50-day moving average is $510.40 and its two-hundred day moving average is $389.53. The company has a market capitalization of $52.60 billion, a price-to-earnings ratio of 178.24, a price-to-earnings-growth ratio of 14.74 and a beta of 1.01. Axon Enterprise has a 52 week low of $231.83 and a 52 week high of $695.94. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32.

Insider Activity

In other Axon Enterprise news, Director Julie A. Cullivan sold 1,261 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total value of $860,077.66. Following the completion of the sale, the director now directly owns 2,392 shares of the company’s stock, valued at $1,631,487.52. The trade was a 34.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey C. Kunins sold 8,182 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $364.86, for a total transaction of $2,985,284.52. Following the transaction, the insider now owns 176,228 shares in the company, valued at $64,298,548.08. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,921 shares of company stock worth $63,093,907 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Insigneo Advisory Services LLC boosted its position in Axon Enterprise by 1.4% during the third quarter. Insigneo Advisory Services LLC now owns 1,568 shares of the biotechnology company’s stock worth $627,000 after purchasing an additional 22 shares during the period. Menard Financial Group LLC boosted its holdings in shares of Axon Enterprise by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 3,014 shares of the biotechnology company’s stock worth $1,204,000 after buying an additional 24 shares during the period. PFG Investments LLC grew its stake in Axon Enterprise by 0.6% in the 3rd quarter. PFG Investments LLC now owns 3,872 shares of the biotechnology company’s stock valued at $1,547,000 after buying an additional 25 shares during the last quarter. Gladstone Institutional Advisory LLC raised its holdings in Axon Enterprise by 1.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,641 shares of the biotechnology company’s stock worth $656,000 after acquiring an additional 26 shares during the period. Finally, Mather Group LLC. lifted its position in Axon Enterprise by 3.7% during the 3rd quarter. Mather Group LLC. now owns 759 shares of the biotechnology company’s stock worth $303,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds 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.