Axon Enterprise (NASDAQ:AAXN) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.
Several other research firms have also recently issued reports on AAXN. Morgan Stanley reiterated an “overweight” rating and set a GBX 2,280 ($29.79) price objective on shares of Anglo American in a research report on Wednesday, May 8th. Dougherty & Co upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Friday, April 5th. Raymond James reiterated a “buy” rating on shares of First Quantum Minerals in a research report on Monday, April 8th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a GBX 650 ($8.49) price objective on shares of in a research report on Thursday, June 20th. Finally, Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $71.00.
NASDAQ AAXN traded down $0.03 on Wednesday, reaching $62.89. 163,978 shares of the stock were exchanged, compared to its average volume of 1,497,935. Axon Enterprise has a one year low of $39.43 and a one year high of $76.45. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 125.78, a PEG ratio of 4.51 and a beta of 0.79. The firm’s 50-day moving average price is $67.64.
Axon Enterprise (NASDAQ:AAXN) last released its earnings results on Thursday, May 9th. The industrial products company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Axon Enterprise had a net margin of 5.22% and a return on equity of 4.93%. The company had revenue of $115.81 million for the quarter, compared to analysts’ expectations of $110.67 million. During the same quarter last year, the business earned $0.29 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise will post 0.56 EPS for the current year.
In related news, CEO Patrick W. Smith sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $70.08, for a total value of $3,504,000.00. Following the sale, the chief executive officer now owns 701,562 shares in the company, valued at $49,165,464.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hadi Partovi sold 70,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $66.16, for a total transaction of $4,631,200.00. Following the completion of the sale, the director now owns 268,190 shares in the company, valued at approximately $17,743,450.40. The disclosure for this sale can be found here. Insiders sold 152,183 shares of company stock worth $10,260,033 in the last 90 days. 2.30% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Freestone Capital Holdings LLC bought a new stake in Axon Enterprise in the first quarter worth $5,446,000. Flagship Harbor Advisors LLC increased its position in Axon Enterprise by 324.1% in the first quarter. Flagship Harbor Advisors LLC now owns 564 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 431 shares during the last quarter. Stephens Inc. AR increased its position in Axon Enterprise by 201.1% in the first quarter. Stephens Inc. AR now owns 2,845 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 1,900 shares during the last quarter. Wade G W & Inc. bought a new stake in Axon Enterprise in the first quarter worth $209,000. Finally, LS Investment Advisors LLC increased its position in Axon Enterprise by 6.8% in the first quarter. LS Investment Advisors LLC now owns 4,088 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 80.15% 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.
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