Axon Enterprise (NASDAQ:AAXN) Now Covered by Analysts at JMP Securities

JMP Securities initiated coverage on shares of Axon Enterprise (NASDAQ:AAXN) in a research report report published on Tuesday, Benzinga reports. The brokerage issued an outperform rating and a $89.00 price target on the industrial products company’s stock.

A number of other research analysts have also weighed in on AAXN. Needham & Company LLC upgraded Axon Enterprise from a hold rating to a buy rating and set a $70.00 target price on the stock in a report on Friday, November 8th. Imperial Capital upped their price target on Axon Enterprise from $68.00 to $73.00 and gave the stock an outperform rating in a report on Tuesday, November 12th. They noted that the move was a valuation call. ValuEngine lowered Axon Enterprise from a buy rating to a hold rating in a research report on Friday, November 1st. Zacks Investment Research upgraded Axon Enterprise from a sell rating to a hold rating in a research note on Tuesday, October 15th. Finally, BidaskClub raised shares of Axon Enterprise from a sell rating to a hold rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $75.00.

AAXN opened at $72.64 on Tuesday. Axon Enterprise has a fifty-two week low of $39.43 and a fifty-two week high of $77.66. The firm has a market capitalization of $4.26 billion, a PE ratio of 145.28, a P/E/G ratio of 10.92 and a beta of 0.74. The company’s 50-day moving average is $64.45 and its 200 day moving average is $63.55.

Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $130.84 million during the quarter, compared to the consensus estimate of $122.72 million. Axon Enterprise had a return on equity of 3.20% and a net margin of 3.24%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. Sell-side analysts predict that Axon Enterprise will post 0.44 earnings per share for the current fiscal year.

In other Axon Enterprise news, Director Mark W. Kroll sold 4,168 shares of Axon Enterprise stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $64.30, for a total transaction of $268,002.40. Following the transaction, the director now owns 19,493 shares of the company’s stock, valued at approximately $1,253,399.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Bartlett & Co. LLC bought a new stake in Axon Enterprise during the third quarter worth $27,000. Executive Wealth Management LLC bought a new position in Axon Enterprise during the second quarter valued at about $32,000. Griffin Asset Management Inc. bought a new position in Axon Enterprise during the second quarter valued at about $40,000. Steward Partners Investment Advisory LLC bought a new position in Axon Enterprise during the second quarter valued at about $103,000. Finally, Parallel Advisors LLC increased 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 worth $191,000 after buying an additional 254 shares during the last quarter. 88.53% 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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