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

Axos Financial (NYSE:AX) had its price objective lifted by analysts at Needham & Company LLC from $82.00 to $85.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 29.05% from the company’s previous close.

Several other equities analysts have also recently commented on AX. Wedbush reduced their target price on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Piper Sandler upped their price objective on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lowered shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 target price for the company. in a research report on Wednesday, July 31st. Finally, Raymond James increased their price target on shares of Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

Axos Financial Trading Down 2.7 %

Shares of Axos Financial stock opened at $65.87 on Thursday. The company’s 50-day moving average price is $64.96 and its 200-day moving average price is $61.37. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 7.97 and a beta of 1.39. Axos Financial has a 12-month low of $32.05 and a 12-month high of $79.15. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX) last posted its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. The business had revenue of $512.87 million for the quarter, compared to analysts’ expectations of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 19.47%. During the same period in the prior year, the company posted $1.41 EPS. On average, equities analysts expect that Axos Financial will post 7.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $63.13, for a total value of $328,086.61. Following the completion of the sale, the executive vice president now owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.07% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently modified their holdings of AX. Hollencrest Capital Management bought a new stake in Axos Financial during the 2nd quarter valued at $25,000. EntryPoint Capital LLC boosted its holdings in shares of Axos Financial by 816.7% during the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock worth $27,000 after purchasing an additional 441 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of Axos Financial in the third quarter worth about $27,000. Farther Finance Advisors LLC increased its holdings in Axos Financial by 881.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock valued at $41,000 after purchasing an additional 582 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Axos Financial by 122.5% during the 1st quarter. Advisors Asset Management Inc. now owns 901 shares of the company’s stock valued at $49,000 after purchasing an additional 496 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

About Axos Financial

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.