Axon Enterprise (NASDAQ:AAXN) Lifted to Buy at BidaskClub

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BidaskClub upgraded shares of Axon Enterprise (NASDAQ:AAXN) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Other research analysts have also issued research reports about the company. Raymond James upgraded Axon Enterprise from an outperform rating to a strong-buy rating in a report on Monday, April 8th. ValuEngine lowered Axon Enterprise from a strong-buy rating to a buy rating in a report on Monday, June 3rd. Dougherty & Co upgraded Axon Enterprise from a neutral rating to a buy rating and set a $67.00 target price on the stock in a report on Friday, April 5th. Morgan Stanley raised their target price on Axon Enterprise from $65.00 to $71.00 and gave the company an overweight rating in a report on Wednesday, May 8th. Finally, Zacks Investment Research lowered Axon Enterprise from a buy rating to a hold rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $70.45.

AAXN stock opened at $65.91 on Friday. Axon Enterprise has a twelve month low of $39.43 and a twelve month high of $74.93. The firm has a 50 day moving average of $66.92. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 177.13, a PEG ratio of 4.90 and a beta of 0.76.

Axon Enterprise (NASDAQ:AAXN) last posted its earnings results on Thursday, May 9th. The industrial products company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. Axon Enterprise had a return on equity of 4.93% and a net margin of 5.22%. The company had revenue of $115.81 million for the quarter, compared to analyst estimates of $110.67 million. During the same quarter last year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts predict that Axon Enterprise will post 0.56 earnings per share for the current fiscal 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 transaction of $3,504,000.00. Following the sale, the chief executive officer now directly owns 701,562 shares in the company, valued at $49,165,464.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hadi Partovi sold 70,000 shares of Axon Enterprise stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $66.16, for a total value of $4,631,200.00. Following the sale, the director now owns 268,190 shares in the company, valued at $17,743,450.40. The disclosure for this sale can be found here. Insiders have sold 151,183 shares of company stock worth $10,196,203 over the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of AAXN. Conestoga Capital Advisors LLC bought a new stake in shares of Axon Enterprise in the first quarter valued at $42,758,000. Norges Bank bought a new stake in shares of Axon Enterprise in the fourth quarter valued at $23,529,000. Janus Henderson Group PLC raised its stake in shares of Axon Enterprise by 13.1% in the first quarter. Janus Henderson Group PLC now owns 4,501,104 shares of the industrial products company’s stock valued at $244,905,000 after buying an additional 520,055 shares during the period. Victory Capital Management Inc. raised its stake in shares of Axon Enterprise by 25.7% in the first quarter. Victory Capital Management Inc. now owns 1,002,232 shares of the industrial products company’s stock valued at $54,531,000 after buying an additional 205,000 shares during the period. Finally, FMR LLC raised its stake in shares of Axon Enterprise by 25,672.5% in the first quarter. FMR LLC now owns 135,821 shares of the industrial products company’s stock valued at $7,390,000 after buying an additional 135,294 shares during the period. Hedge funds and other institutional investors own 80.22% 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.

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Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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