Axon Enterprise Inc (NASDAQ:AAXN) Given Consensus Recommendation of “Buy” by Brokerages

Axon Enterprise Inc (NASDAQ:AAXN) has earned an average recommendation of “Buy” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $71.50.

Several brokerages have recently issued reports on AAXN. TheStreet cut Axon Enterprise from a “b-” rating to a “c+” rating in a research report on Wednesday, July 10th. Needham & Company LLC cut Axon Enterprise from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley lifted their price target on Axon Enterprise from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. BidaskClub upgraded Axon Enterprise from a “hold” rating to a “buy” rating in a research report on Saturday, August 3rd. Finally, Zacks Investment Research cut Axon Enterprise from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th.

AAXN traded up $1.52 during trading hours on Tuesday, hitting $59.02. The company’s stock had a trading volume of 23,516 shares, compared to its average volume of 780,468. Axon Enterprise has a fifty-two week low of $39.43 and a fifty-two week high of $74.93. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 118.68, a PEG ratio of 4.12 and a beta of 0.76. The business’s 50-day moving average is $65.72.

Axon Enterprise (NASDAQ:AAXN) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). Axon Enterprise had a net margin of 3.34% and a return on equity of 3.23%. The business had revenue of $112.36 million during the quarter, compared to analyst estimates of $115.41 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that Axon Enterprise will post 0.56 earnings per share for the current year.

In related news, CEO Patrick W. Smith sold 50,000 shares of Axon Enterprise stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $70.08, for a total value of $3,504,000.00. Following the transaction, the chief executive officer now directly owns 701,562 shares in the company, valued at approximately $49,165,464.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction on Friday, May 31st. The stock was sold at an average price of $66.65, for a total value of $66,650.00. Following the completion of the transaction, the director now owns 32,657 shares in the company, valued at $2,176,589.05. The disclosure for this sale can be found here. Insiders sold a total of 66,383 shares of company stock worth $4,603,003 over the last 90 days. Insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Advisers LP acquired a new position in Axon Enterprise during the fourth quarter worth $429,000. Bank of America Corp DE boosted its position in Axon Enterprise by 194.7% during the fourth quarter. Bank of America Corp DE now owns 159,355 shares of the industrial products company’s stock worth $6,972,000 after purchasing an additional 105,280 shares in the last quarter. Millennium Management LLC purchased a new stake in Axon Enterprise during the fourth quarter worth $4,807,000. Norges Bank purchased a new stake in Axon Enterprise during the fourth quarter worth $23,529,000. Finally, Geode Capital Management LLC boosted its position in Axon Enterprise by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 661,195 shares of the industrial products company’s stock worth $28,927,000 after purchasing an additional 63,050 shares in the last quarter. Institutional investors and hedge funds own 77.56% of the company’s stock.

Axon Enterprise Company Profile

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.

See Also: P/E Growth (PEG)

Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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