Zacks Investment Research downgraded shares of Axon Enterprise (NASDAQ:AAXN) from a buy rating to a hold rating in a research report report published on Friday morning, Zacks.com reports.
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. “
Several other brokerages have also commented on AAXN. JPMorgan Chase & Co. reissued an underweight rating and set a GBX 650 ($8.49) price objective on shares of in a research report on Thursday, June 20th. BidaskClub lowered Amyris from a hold rating to a sell rating in a research report on Thursday, June 27th. TheStreet lowered Upland Software from a b- rating to a c+ rating in a research report on Wednesday, July 10th. Raymond James reissued a buy rating on shares of First Quantum Minerals in a research report on Monday, April 8th. Finally, Morgan Stanley reissued an overweight rating and set a GBX 2,280 ($29.79) price objective on shares of Anglo American in a research report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $71.00.
Shares of Axon Enterprise stock opened at $63.78 on Friday. Axon Enterprise has a 52-week low of $39.43 and a 52-week high of $76.45. The company has a market capitalization of $3.81 billion, a PE ratio of 165.38, a price-to-earnings-growth ratio of 4.60 and a beta of 0.79. The business has a 50 day moving average price of $67.40.
Axon Enterprise (NASDAQ:AAXN) last issued its earnings results on Thursday, May 9th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Axon Enterprise had a net margin of 5.22% and a return on equity of 4.93%. The firm had revenue of $115.81 million for the quarter, compared to analysts’ expectations of $110.67 million. During the same quarter last year, the business earned $0.29 earnings per share. The business’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts predict that Axon Enterprise will post 0.56 earnings per share for the current year.
In other news, Director Hadi Partovi sold 70,000 shares of Axon Enterprise stock in a transaction dated 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 completion of the transaction, the director now owns 268,190 shares of the company’s stock, valued at approximately $17,743,450.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 50,000 shares of Axon Enterprise stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 701,562 shares of the company’s stock, valued at approximately $49,165,464.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,183 shares of company stock valued at $10,260,033. 2.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Allied Advisory Services Inc. increased its holdings in Axon Enterprise by 12.4% in the 4th quarter. First Allied Advisory Services Inc. now owns 7,701 shares of the industrial products company’s stock worth $338,000 after buying an additional 850 shares in the last quarter. Baillie Gifford & Co. bought a new stake in Axon Enterprise in the 4th quarter worth about $16,653,000. New York State Common Retirement Fund increased its holdings in Axon Enterprise by 5.8% in the 1st quarter. New York State Common Retirement Fund now owns 83,076 shares of the industrial products company’s stock worth $4,520,000 after buying an additional 4,568 shares in the last quarter. Juncture Wealth Strategies LLC increased its holdings in Axon Enterprise by 3.2% in the 1st quarter. Juncture Wealth Strategies LLC now owns 11,136 shares of the industrial products company’s stock worth $606,000 after buying an additional 343 shares in the last quarter. Finally, Cipher Capital LP bought a new stake in Axon Enterprise in the 4th quarter worth about $755,000. Institutional investors own 80.26% 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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