Needham & Company LLC Raises Axos Financial (NYSE:AX) Price Target to $85.00

by · The Cerbat Gem

Axos Financial (NYSE:AX – Get Free Report) had its price target increased by stock analysts at Needham & Company LLC from $82.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 27.84% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Wedbush cut their price target on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Raymond James increased their price target on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods cut Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price target for the company. in a report on Wednesday, July 31st. Finally, Piper Sandler increased their price target on Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.80.

Get Our Latest Stock Analysis on Axos Financial

Axos Financial Price Performance

Shares of Axos Financial stock opened at $66.49 on Thursday. The business has a 50 day simple moving average of $64.85 and a two-hundred day simple moving average of $61.29. Axos Financial has a 12 month low of $32.05 and a 12 month high of $79.15. The stock has a market capitalization of $3.79 billion, a P/E ratio of 9.02 and a beta of 1.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08.

Axos Financial (NYSE:AX – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. During the same quarter in the previous year, the company earned $1.41 earnings per share. As a group, analysts predict that Axos Financial will post 7.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the transaction, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management purchased a new position in shares of Axos Financial during the second quarter worth $25,000. EntryPoint Capital LLC raised its stake in shares of Axos Financial by 816.7% in the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock valued at $27,000 after acquiring an additional 441 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Axos Financial in the third quarter valued at $27,000. Farther Finance Advisors LLC raised its stake in shares of Axos Financial by 881.8% in the third quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock valued at $41,000 after acquiring an additional 582 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Axos Financial by 122.5% in the first quarter. Advisors Asset Management Inc. now owns 901 shares of the company’s stock valued at $49,000 after acquiring an additional 496 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Company Profile

(Get Free Report)

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.

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