TASER International, Inc. (NASDAQ:AAXN) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of TASER International, Inc. (NASDAQ:AAXN) from a hold rating to a sell rating in a research report released on Tuesday.

According to Zacks, “Axon Enterprise, Inc. engages in the development, manufacture and sale of conducted electrical weapons for the law enforcement, federal, military, corrections, private security and personal defense markets. Its operating segment consists of TASER Weapons and Axon segments. TASER Weapons segment involves in the sale of conducted electrical weapons, accessories and other products and services. Axon segment focuses on devices, wearables, applications, cloud and mobile products. Axon Enterprise Inc., formerly known as TASER International Inc., is headquartered in Scottsdale, AZ. “

AAXN has been the subject of several other research reports. Imperial Capital reissued an in-line rating and issued a $25.00 price target on shares of TASER International in a research report on Monday, March 27th. Craig Hallum lifted their price objective on shares of TASER International from $29.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday, May 10th. Finally, ValuEngine cut shares of TASER International from a hold rating to a sell rating in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. TASER International presently has an average rating of Hold and a consensus price target of $28.80.

Shares of TASER International (NASDAQ AAXN) traded up 1.78% during trading on Tuesday, reaching $25.74. 168,820 shares of the company were exchanged. The firm has a 50-day moving average price of $25.01 and a 200-day moving average price of $24.47. TASER International has a 1-year low of $21.18 and a 1-year high of $30.15. The stock has a market capitalization of $1.36 billion, a P/E ratio of 73.54 and a beta of 0.97.

TASER International (NASDAQ:AAXN) last issued its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. TASER International had a net margin of 6.31% and a return on equity of 11.93%. The company had revenue of $79.20 million during the quarter, compared to analysts’ expectations of $69.69 million. During the same quarter last year, the company posted $0.06 EPS. The firm’s revenue was up 42.7% compared to the same quarter last year. Equities research analysts predict that TASER International will post $0.26 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership bought a new stake in shares of TASER International during the first quarter valued at approximately $31,718,000. Columbia Wanger Asset Management LLC acquired a new position in TASER International during the first quarter worth approximately $14,841,000. Granahan Investment Management Inc. MA acquired a new position in TASER International during the first quarter worth approximately $9,850,000. Geode Capital Management LLC acquired a new position in TASER International during the first quarter worth approximately $9,803,000. Finally, Cortina Asset Management LLC acquired a new position in TASER International during the first quarter worth approximately $7,597,000. Hedge funds and other institutional investors own 79.18% of the company’s stock.

TASER International Company Profile

Axon Enterprise, Inc, formerly TASER International, Inc, is engaged in development, manufacture and sale of conducted electrical weapons (CEWs) for use by law enforcement, military, corrections and private security personnel, and by private individuals for personal defense. It is also engaged in development of connected wearable on-officer cameras.

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Analyst Recommendations for TASER International (NASDAQ:AAXN)

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