Axon Enterprise (AAXN) Earns Outperform Rating from Analysts at Raymond James

Equities research analysts at Raymond James started coverage on shares of Axon Enterprise (NASDAQ:AAXN) in a research note issued on Friday, The Fly reports. The firm set an “outperform” rating on the industrial products company’s stock.

AAXN has been the topic of several other reports. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating and lifted their target price for the stock from $55.00 to $62.00 in a research note on Wednesday, August 8th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $66.00 target price on shares of Axon Enterprise and gave the stock a “buy” rating in a research note on Monday, May 21st. BidaskClub downgraded shares of Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Robert W. Baird began coverage on shares of Axon Enterprise in a research note on Friday, June 29th. They issued a “neutral” rating and a $68.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Axon Enterprise currently has an average rating of “Buy” and an average target price of $61.00.

Shares of NASDAQ AAXN opened at $71.43 on Friday. Axon Enterprise has a 52 week low of $20.57 and a 52 week high of $76.45. The firm has a market capitalization of $4.10 billion, a P/E ratio of 264.56, a PEG ratio of 5.45 and a beta of 1.10.

Axon Enterprise (NASDAQ:AAXN) last issued its earnings results on Tuesday, August 7th. The industrial products company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. Axon Enterprise had a net margin of 5.35% and a return on equity of 11.80%. The company had revenue of $99.23 million for the quarter, compared to the consensus estimate of $95.74 million. analysts anticipate that Axon Enterprise will post 0.52 EPS for the current year.

In other Axon Enterprise news, Director Julie A. Cullivan sold 2,100 shares of the business’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $72.79, for a total transaction of $152,859.00. Following the transaction, the director now directly owns 6,779 shares of the company’s stock, valued at approximately $493,443.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark W. Kroll sold 3,100 shares of the business’s stock in a transaction on Sunday, December 16th. The shares were sold at an average price of $22.85, for a total transaction of $70,835.00. Following the transaction, the director now directly owns 55,135 shares in the company, valued at $1,259,834.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,297 shares of company stock worth $2,493,815. Insiders own 3.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of AAXN. Fox Run Management L.L.C. purchased a new stake in shares of Axon Enterprise in the 2nd quarter worth about $401,000. Rhumbline Advisers grew its position in shares of Axon Enterprise by 7.8% in the 2nd quarter. Rhumbline Advisers now owns 137,090 shares of the industrial products company’s stock worth $8,661,000 after buying an additional 9,951 shares during the period. Navellier & Associates Inc purchased a new stake in shares of Axon Enterprise in the 2nd quarter worth about $1,013,000. Federated Investors Inc. PA purchased a new stake in shares of Axon Enterprise in the 2nd quarter worth about $10,259,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Axon Enterprise in the 2nd quarter worth about $256,000. 82.24% of the stock is currently owned by institutional investors and hedge funds.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.

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Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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