Axon Enterprise (NASDAQ:AAXN) Rating Increased 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 published on Wednesday, BenzingaRatingsTable reports. Imperial Capital currently has $68.00 price target on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Axon Enterprise from a buy rating to a hold rating in a research note on Thursday, July 25th. Needham & Company LLC lowered shares of Axon Enterprise from a buy rating to a hold rating in a research note on Friday, August 9th. BidaskClub upgraded shares of Axon Enterprise from a hold rating to a buy rating in a research note on Saturday, August 3rd. JPMorgan Chase & Co. restated an overweight rating and set a $81.00 price target (up previously from $73.00) on shares of Axon Enterprise in a research note on Thursday, June 20th. Finally, ValuEngine lowered shares of Axon Enterprise from a buy rating to a hold rating in a research note on Saturday, August 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 company. The company currently has a consensus rating of Buy and a consensus price target of $72.22.

Shares of AAXN stock opened at $59.22 on Wednesday. The company has a 50 day moving average of $64.85 and a 200-day moving average of $61.25. Axon Enterprise has a 12-month low of $39.43 and a 12-month high of $74.93. The firm has a market cap of $3.40 billion, a P/E ratio of 229.44, a PEG ratio of 4.42 and a beta of 0.76.

Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.05). Axon Enterprise had a return on equity of 3.19% and a net margin of 3.34%. The company had revenue of $112.36 million for the quarter, compared to analysts’ expectations of $115.41 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Axon Enterprise will post 0.52 earnings per share for the current fiscal year.

In related news, President Luke Larson sold 15,383 shares of Axon Enterprise stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $67.11, for a total value of $1,032,353.13. Following the completion of the transaction, the president now directly owns 56,774 shares in the company, valued at approximately $3,810,103.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction that occurred on 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 transaction, the director now 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 sold a total of 67,743 shares of company stock valued at $4,681,693 over the last quarter. 2.30% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC grew its stake in Axon Enterprise by 324.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 564 shares of the industrial products company’s stock valued at $30,000 after buying an additional 431 shares in the last quarter. Quad Cities Investment Group LLC boosted its holdings in Axon Enterprise by 400.0% in the 2nd quarter. Quad Cities Investment Group LLC now owns 500 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 400 shares during the period. Executive Wealth Management LLC bought a new position in Axon Enterprise in the 2nd quarter valued at $32,000. Steward Partners Investment Advisory LLC bought a new position in Axon Enterprise in the 2nd quarter valued at $103,000. Finally, Stephens Inc. AR boosted its holdings in Axon Enterprise by 201.1% in the 1st quarter. Stephens Inc. AR now owns 2,845 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 77.56% of the company’s stock.

Axon Enterprise Company Profile

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.

See Also: How does equity income fit into an investing strategy?

Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

Receive News & Ratings for Axon Enterprise Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Axon Enterprise and related companies with MarketBeat.com's FREE daily email newsletter.