Axon Enterprise (AAXN) Stock Rating Upgraded by TheStreet

Axon Enterprise (NASDAQ:AAXN) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a report issued on Monday, TheStreetRatingsTable reports.

Several other research firms have also recently weighed in on AAXN. Dougherty & Co raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Friday, April 5th. BidaskClub upgraded shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. ValuEngine lowered shares of Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 4th. Morgan Stanley cut their target price on shares of Axon Enterprise from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, January 7th. Finally, Zacks Investment Research upgraded shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a research report on Wednesday, January 9th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. Axon Enterprise currently has a consensus rating of “Buy” and an average price target of $68.25.

AAXN opened at $61.55 on Monday. Axon Enterprise has a twelve month low of $39.43 and a twelve month high of $76.45. The company has a market cap of $3.59 billion, a PE ratio of 123.10, a P/E/G ratio of 4.50 and a beta of 0.89.

Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings data on Tuesday, February 26th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). Axon Enterprise had a net margin of 6.95% and a return on equity of 7.43%. The company had revenue of $114.79 million for the quarter, compared to analysts’ expectations of $104.03 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts anticipate that Axon Enterprise will post 0.54 EPS for the current fiscal year.

In related news, Director Michael Garnreiter sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the completion of the sale, the director now directly owns 33,261 shares in the company, valued at $1,995,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick W. Smith sold 9,021 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.53, for a total transaction of $482,894.13. Following the sale, the chief executive officer now owns 758,197 shares of the company’s stock, valued at $40,586,285.41. The disclosure for this sale can be found here. Insiders have sold 119,057 shares of company stock valued at $6,131,430 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of AAXN. Bank of New York Mellon Corp boosted its position in shares of 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 worth $44,783,000 after purchasing an additional 21,516 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Axon Enterprise in the third quarter worth approximately $811,000. JPMorgan Chase & Co. boosted its position in shares of Axon Enterprise by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 448,499 shares of the industrial products company’s stock worth $30,691,000 after purchasing an additional 84,018 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Axon Enterprise in the third quarter worth approximately $205,000. Finally, Man Group plc boosted its position in shares of Axon Enterprise by 21.6% in the third quarter. Man Group plc now owns 25,321 shares of the industrial products company’s stock worth $1,733,000 after purchasing an additional 4,491 shares during the period. Institutional investors and hedge funds own 79.76% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy weapons (CEWs) worldwide. The company operates through two segments, TASER and Software and Sensors. It offers TASER X26P, TASER X2, TASER 7, and TASER Pulse and Bolt CEWs; and related cartridges. The company also provides on-officer body cameras and Axon Fleet in-car video systems; and Axon Evidence connected software network; Axon Records cloud-based records management system; Axon Signal enabled devices; and computer-aided dispatch software, as well as Axon docks, cartridges, and batteries.

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Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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