Axon Enterprise (AAXN) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Axon Enterprise (NASDAQ:AAXN) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

AAXN has been the subject of a number of other reports. Craig Hallum downgraded shares of Axon Enterprise from a buy rating to a hold rating and boosted their price target 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. Raymond James began coverage on shares of Axon Enterprise in a research note on Friday, September 14th. They set an outperform rating and a $79.00 price target for the company. JPMorgan Chase & Co. raised shares of Axon Enterprise from a neutral rating to an overweight rating and boosted their price target for the stock from $66.00 to $68.00 in a research note on Thursday, November 8th. LADENBURG THALM/SH SH reissued a buy rating and set a $77.00 price target on shares of Axon Enterprise in a research note on Wednesday, August 8th. Finally, Northcoast Research began coverage on shares of Axon Enterprise in a research note on Tuesday, October 2nd. They set a neutral rating for the company. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $64.82.

Shares of NASDAQ AAXN opened at $43.47 on Friday. Axon Enterprise has a 1-year low of $23.82 and a 1-year high of $76.45. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 161.00, a P/E/G ratio of 3.33 and a beta of 1.00.

Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.05. The business had revenue of $104.84 million during the quarter, compared to the consensus estimate of $103.06 million. Axon Enterprise had a net margin of 6.26% and a return on equity of 10.74%. Axon Enterprise’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, sell-side analysts anticipate that Axon Enterprise will post 0.52 EPS for the current year.

In other Axon Enterprise news, insider Douglas E. Klint sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $69.82, for a total value of $1,745,500.00. Following the completion of the sale, the insider now owns 104,341 shares of the company’s stock, valued at $7,285,088.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $68.00, for a total transaction of $68,000.00. Following the completion of the sale, the director now directly owns 38,261 shares of the company’s stock, valued at approximately $2,601,748. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,100 shares of company stock valued at $2,015,035. 3.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Axon Enterprise by 7.1% in the third quarter. BlackRock Inc. now owns 9,728,208 shares of the industrial products company’s stock valued at $665,701,000 after purchasing an additional 644,469 shares in the last quarter. Vanguard Group Inc. increased its stake in Axon Enterprise by 3.9% in the third quarter. Vanguard Group Inc. now owns 6,322,470 shares of the industrial products company’s stock valued at $432,647,000 after purchasing an additional 238,066 shares in the last quarter. Northern Trust Corp increased its stake in Axon Enterprise by 4.2% in the second quarter. Northern Trust Corp now owns 707,874 shares of the industrial products company’s stock valued at $44,722,000 after purchasing an additional 28,324 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Axon Enterprise by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 654,417 shares of the industrial products company’s stock valued at $44,783,000 after purchasing an additional 21,516 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Axon Enterprise by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 448,499 shares of the industrial products company’s stock valued at $30,691,000 after purchasing an additional 84,018 shares in the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

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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