Axon Enterprise (NASDAQ:AAXN) Raised to Outperform at Imperial Capital

Imperial Capital upgraded shares of Axon Enterprise (NASDAQ:AAXN) from an in-line rating to an outperform rating in a report issued on Wednesday morning, BenzingaRatingsTable reports. They currently have $68.00 price objective on the industrial products company’s stock.

Several other analysts have also recently commented on the stock. ValuEngine cut shares of Axon Enterprise from a buy rating to a hold rating in a research note on Saturday, August 10th. Zacks Investment Research downgraded shares of Axon Enterprise from a buy rating to a hold rating in a report on Thursday, July 25th. Morgan Stanley boosted their target price on shares of Axon Enterprise from $65.00 to $71.00 and gave the stock an overweight rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. restated an overweight rating and issued a $81.00 target price (up from $73.00) on shares of Axon Enterprise in a report on Thursday, June 20th. Finally, TheStreet downgraded shares of Axon Enterprise from a b- rating to a c+ rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $72.22.

Shares of AAXN stock opened at $59.22 on Wednesday. The stock has a market cap of $3.43 billion, a P/E ratio of 118.44, a PEG ratio of 4.46 and a beta of 0.76. Axon Enterprise has a 52 week low of $39.43 and a 52 week high of $74.93. The company’s fifty day simple moving average is $64.85 and its two-hundred day simple moving average is $61.25.

Axon Enterprise (NASDAQ:AAXN) last announced its quarterly 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). The company had revenue of $112.36 million during the quarter, compared to analysts’ expectations of $115.41 million. Axon Enterprise had a return on equity of 3.19% and a net margin of 3.34%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, research analysts forecast that Axon Enterprise will post 0.52 EPS for the current fiscal year.

In other Axon Enterprise news, Director Julie A. Cullivan sold 1,360 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $57.86, for a total value of $78,689.60. Following the completion of the sale, the director now directly owns 7,815 shares of the company’s stock, valued at approximately $452,175.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $66.65, for a total transaction of $66,650.00. Following the completion of the sale, the director now directly owns 32,657 shares of the company’s stock, valued at $2,176,589.05. The disclosure for this sale can be found here. Insiders have sold a total of 67,743 shares of company stock worth $4,681,693 over the last quarter. 2.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Bridge City Capital LLC increased its stake in Axon Enterprise by 0.5% during the 2nd quarter. Bridge City Capital LLC now owns 33,117 shares of the industrial products company’s stock valued at $2,126,000 after purchasing an additional 163 shares in the last quarter. Freestone Capital Holdings LLC purchased a new position in Axon Enterprise during the first quarter valued at $5,446,000. AGF Investments LLC lifted its holdings in Axon Enterprise by 5.1% during the second quarter. AGF Investments LLC now owns 4,610 shares of the industrial products company’s stock valued at $296,000 after purchasing an additional 222 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Axon Enterprise by 9.3% during the second quarter. Parallel Advisors LLC now owns 2,977 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 254 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in Axon Enterprise by 6.8% during the first quarter. LS Investment Advisors LLC now owns 4,088 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 259 shares in the last quarter. 77.56% of the stock is owned by institutional investors.

About Axon Enterprise

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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