Equities research analysts expect that Axon Enterprise Inc (NASDAQ:AAXN) will report $110.39 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Axon Enterprise’s earnings. The lowest sales estimate is $109.00 million and the highest is $114.25 million. Axon Enterprise posted sales of $101.22 million during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The company is expected to announce its next earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Axon Enterprise will report full year sales of $486.56 million for the current fiscal year, with estimates ranging from $484.76 million to $490.10 million. For the next year, analysts forecast that the company will post sales of $573.20 million, with estimates ranging from $557.78 million to $591.04 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Axon Enterprise.
Axon Enterprise (NASDAQ:AAXN) last announced its quarterly earnings data on Tuesday, February 26th. The industrial products company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). The company had revenue of $114.79 million for the quarter, compared to analyst estimates of $104.03 million. Axon Enterprise had a net margin of 6.95% and a return on equity of 7.43%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS.
A number of research analysts have recently commented on AAXN shares. Dougherty & Co raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Friday, April 5th. BidaskClub raised shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. ValuEngine lowered shares of Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 4th. Morgan Stanley cut their price objective on shares of Axon Enterprise from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, January 7th. Finally, Zacks Investment Research raised shares of Axon Enterprise from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a research report on Wednesday, January 9th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $68.25.
Shares of AAXN opened at $61.55 on Wednesday. The stock has a market cap of $3.59 billion, a PE ratio of 123.10, a P/E/G ratio of 4.58 and a beta of 0.89. Axon Enterprise has a 52 week low of $39.43 and a 52 week high of $76.45.
In related news, CEO Patrick W. Smith sold 9,021 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.53, for a total value of $482,894.13. Following the completion of the transaction, the chief executive officer now owns 758,197 shares of the company’s stock, valued at $40,586,285.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Garnreiter sold 2,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $60.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director now directly owns 31,261 shares of the company’s stock, valued at approximately $1,875,660. The disclosure for this sale can be found here. Insiders sold 119,057 shares of company stock valued at $6,131,430 in the last three months. Company insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of AAXN. Bank of New York Mellon Corp increased its holdings in shares of Axon Enterprise by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 654,417 shares of the industrial products company’s stock worth $44,783,000 after buying an additional 21,516 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Axon Enterprise during the third quarter worth approximately $811,000. JPMorgan Chase & Co. increased its holdings in shares of Axon Enterprise by 23.1% during the third quarter. JPMorgan Chase & Co. now owns 448,499 shares of the industrial products company’s stock worth $30,691,000 after buying an additional 84,018 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Axon Enterprise during the third quarter worth approximately $205,000. Finally, Man Group plc increased its holdings in shares of Axon Enterprise by 21.6% during the third quarter. Man Group plc now owns 25,321 shares of the industrial products company’s stock worth $1,733,000 after buying an additional 4,491 shares in the last quarter. 79.76% of the stock is owned by institutional investors.
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.
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