Axon Enterprise (NASDAQ:AXON) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Axon Enterprise (NASDAQ:AXON) issued its quarterly earnings results on Monday. The biotechnology company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.95 by $0.20, Briefing.com reports. The firm had revenue of $460.74 million during the quarter, compared to analysts’ expectations of $441.57 million. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The firm’s revenue for the quarter was up 34.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.51 earnings per share. Axon Enterprise updated its FY 2024 guidance to EPS.

Axon Enterprise Price Performance

AXON opened at $327.64 on Tuesday. The stock’s 50-day moving average price is $309.95 and its 200 day moving average price is $266.41. Axon Enterprise has a 12-month low of $175.37 and a 12-month high of $329.87. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42. The firm has a market cap of $24.72 billion, a price-to-earnings ratio of 142.45 and a beta of 0.91.

Wall Street Analysts Forecast Growth

AXON has been the subject of several analyst reports. JMP Securities upped their target price on Axon Enterprise from $320.00 to $375.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Morgan Stanley upped their target price on Axon Enterprise from $285.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. TheStreet cut Axon Enterprise from a “b” rating to a “c+” rating in a report on Tuesday, February 27th. StockNews.com lowered Axon Enterprise from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. upped their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.09.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.