Axon Enterprise (NASDAQ:AAXN) Raised to Strong-Buy at BidaskClub

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

A number of other equities analysts also recently commented on the stock. Imperial Capital boosted their target price on shares of 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. JMP Securities initiated coverage on shares of Axon Enterprise in a report on Tuesday, December 10th. They issued an outperform rating and a $89.00 target price for the company. Needham & Company LLC boosted their target price on shares of Axon Enterprise from $70.00 to $80.00 and gave the stock a buy rating in a report on Monday, January 6th. ValuEngine downgraded shares of Axon Enterprise from a buy rating to a hold rating in a report on Friday, November 1st. Finally, Zacks Investment Research upgraded shares of Axon Enterprise from a sell rating to a hold rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $76.11.

Axon Enterprise stock traded down $0.63 during trading hours on Thursday, reaching $87.11. The stock had a trading volume of 592,148 shares, compared to its average volume of 733,389. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 348.44, a PEG ratio of 7.57 and a beta of 0.78. The business’s 50 day moving average price is $76.75 and its 200-day moving average price is $66.29. Axon Enterprise has a 52 week low of $46.28 and a 52 week high of $89.16.

In other news, CRO Joshua Isner sold 12,013 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $71.68, for a total transaction of $861,091.84. Following the sale, the executive now owns 8,382 shares in the company, valued at $600,821.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick W. Smith sold 50,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $79.06, for a total value of $3,953,000.00. Following the sale, the chief executive officer now owns 630,011 shares in the company, valued at approximately $49,808,669.66. The disclosure for this sale can be found here. Insiders have sold 76,451 shares of company stock worth $5,849,008 in the last 90 days. Insiders own 2.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Clear Harbor Asset Management LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $27,000. Citizens Financial Group Inc RI purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $28,000. Bartlett & Co. LLC purchased a new stake in Axon Enterprise in the third quarter valued at approximately $27,000. Nisa Investment Advisors LLC boosted its position in Axon Enterprise by 56.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 500 shares of the industrial products company’s stock valued at $37,000 after buying an additional 180 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in Axon Enterprise by 64.7% in the fourth quarter. Advisory Services Network LLC now owns 542 shares of the industrial products company’s stock valued at $40,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.

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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