Needham Gives a Buy Rating to Axon Enterprise (AAXN)

In a report released today, Scott Berg from Needham assigned a Buy rating to Axon Enterprise (AAXNResearch Report), with a price target of $90.00. The company’s shares closed last Tuesday at $74.73.

According to TipRanks.com, Berg is a top 100 analyst with an average return of 16.7% and a 66.6% success rate. Berg covers the Technology sector, focusing on stocks such as GTY Technology Holdings, Cornerstone Ondemand, and Tyler Technologies.

Axon Enterprise has an analyst consensus of Moderate Buy, with a price target consensus of $83.00, an 11.6% upside from current levels. In a report issued on May 8, Northland Securities also assigned a Buy rating to the stock with a $80.00 price target.

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The company has a one-year high of $90.10 and a one-year low of $49.80. Currently, Axon Enterprise has an average volume of 864.4K.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAXN in relation to earlier this year. Earlier this month, Richard Carmona, a Director at AAXN sold 45,067 shares for a total of $3,843,314.

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Axon Enterprise, Inc. engages in the development, manufacture, and sale of conducted electrical weapons for personal defense. It operates through the TASER Weapons and Software and Sensors segments. The TASER Weapons segment sells conducted electrical weapons, accessories, and other related products and services. The Software and Sensors segment includes devices, wearables, applications, cloud and mobile products. The company was founded by Patrick W. Smith and Thomas P. Smith on September 7, 1993 and is headquartered in Scottsdale, AZ.