Analysts expect Axon Enterprise Inc (NASDAQ:AAXN) to post $105.27 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Axon Enterprise’s earnings. The lowest sales estimate is $102.42 million and the highest is $108.90 million. Axon Enterprise posted sales of $94.65 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The business is expected to announce its next earnings report on Tuesday, February 26th.
On average, analysts expect that Axon Enterprise will report full year sales of $410.11 million for the current year, with estimates ranging from $407.70 million to $412.70 million. For the next fiscal year, analysts forecast that the company will post sales of $478.65 million, with estimates ranging from $460.70 million to $488.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Axon Enterprise.
Axon Enterprise (NASDAQ:AAXN) last issued its earnings results on Tuesday, November 6th. The industrial products company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.05. Axon Enterprise had a net margin of 6.26% and a return on equity of 10.74%. The firm had revenue of $104.84 million during the quarter, compared to the consensus estimate of $103.06 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis.
Several equities research analysts have commented on AAXN shares. Imperial Capital raised shares of Axon Enterprise from an “in-line” rating to an “outperform” rating and upped their target price for the company from $50.00 to $62.00 in a research note on Wednesday, August 8th. TheStreet downgraded shares of Axon Enterprise from a “b-” rating to a “c” rating in a research note on Thursday, August 9th. LADENBURG THALM/SH SH downgraded shares of Axon Enterprise from a “buy” rating to a “neutral” rating and set a $77.00 target price for the company. in a research note on Monday, October 15th. Zacks Investment Research raised shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, October 23rd. Finally, BidaskClub downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Axon Enterprise presently has a consensus rating of “Buy” and a consensus target price of $64.82.
NASDAQ:AAXN traded down $1.54 during trading hours on Friday, hitting $43.64. The stock had a trading volume of 815,278 shares, compared to its average volume of 828,008. Axon Enterprise has a one year low of $23.85 and a one year high of $76.45. The company has a market capitalization of $2.54 billion, a PE ratio of 161.63, a PEG ratio of 3.46 and a beta of 0.96.
In other news, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $68.61, for a total transaction of $68,610.00. Following the completion of the sale, the director now owns 37,261 shares of the company’s stock, valued at $2,556,477.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jawad A. Ahsan acquired 2,000 shares of the stock in a transaction dated Monday, November 12th. The shares were bought at an average cost of $49.73 per share, with a total value of $99,460.00. Following the transaction, the chief financial officer now directly owns 71,156 shares of the company’s stock, valued at $3,538,587.88. The disclosure for this purchase can be found here. Insiders have sold 5,100 shares of company stock valued at $201,535 in the last three months. 3.50% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Axon Enterprise by 7.1% during the third quarter. BlackRock Inc. now owns 9,728,208 shares of the industrial products company’s stock worth $665,701,000 after acquiring an additional 644,469 shares in the last quarter. Vanguard Group Inc. grew its position 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 grew its position 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 grew its position 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. grew its position 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. 78.17% of the stock is owned by 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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