Axon Enterprise Inc (NASDAQ:AAXN) Given Average Rating of “Hold” by Brokerages

Shares of Axon Enterprise Inc (NASDAQ:AAXN) have been given an average recommendation of “Hold” by the twelve brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $100.83.

A number of analysts have commented on AAXN shares. Zacks Investment Research cut shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Tuesday, July 14th. Craig Hallum reissued a “hold” rating and issued a $94.00 price objective on shares of Axon Enterprise in a research note on Friday, August 7th. Morgan Stanley upped their target price on shares of Axon Enterprise from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Axon Enterprise from $90.00 to $120.00 in a research report on Wednesday, June 10th. Finally, BidaskClub upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a research report on Friday, September 11th.

Shares of NASDAQ AAXN traded down $0.21 during mid-day trading on Wednesday, reaching $84.19. 308 shares of the company were exchanged, compared to its average volume of 617,579. Axon Enterprise has a 52 week low of $49.80 and a 52 week high of $104.90. The stock has a market capitalization of $5.36 billion, a PE ratio of -153.45 and a beta of 0.60. The company’s 50 day moving average price is $83.74 and its 200 day moving average price is $81.10.

Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.17). Axon Enterprise had a negative return on equity of 5.32% and a negative net margin of 5.58%. The company had revenue of $141.26 million for the quarter, compared to the consensus estimate of $133.36 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The business’s revenue was up 25.7% on a year-over-year basis. Equities analysts anticipate that Axon Enterprise will post -0.64 EPS for the current year.

In other Axon Enterprise news, Director Julie A. Cullivan sold 859 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $85.39, for a total value of $73,350.01. Following the transaction, the director now owns 8,220 shares of the company’s stock, valued at $701,905.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Garnreiter sold 500 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $98.64, for a total transaction of $49,320.00. Following the completion of the transaction, the director now directly owns 32,650 shares in the company, valued at approximately $3,220,596. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,199 shares of company stock valued at $285,999. Company insiders own 1.90% of the company’s stock.

Large investors have recently modified their holdings of the business. FMR LLC increased its position in Axon Enterprise by 25,672.5% during the 1st quarter. FMR LLC now owns 135,821 shares of the industrial products company’s stock worth $7,390,000 after purchasing an additional 135,294 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Axon Enterprise by 22.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 8,860 shares of the industrial products company’s stock valued at $627,000 after purchasing an additional 1,599 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Axon Enterprise by 3.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,437 shares of the industrial products company’s stock valued at $314,000 after purchasing an additional 160 shares during the period. Aperio Group LLC raised its stake in shares of Axon Enterprise by 9.0% in the 1st quarter. Aperio Group LLC now owns 34,956 shares of the industrial products company’s stock valued at $2,474,000 after purchasing an additional 2,887 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Axon Enterprise by 18.8% in the 1st quarter. New York State Common Retirement Fund now owns 124,751 shares of the industrial products company’s stock valued at $8,829,000 after purchasing an additional 19,770 shares during the period. Institutional investors own 83.12% 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.

Further Reading: Outperform Rating

Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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