Axon Enterprise (AAXN) Upgraded to Buy by Zacks Investment Research

Axon Enterprise (NASDAQ:AAXN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm presently has a $73.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.60% from the company’s previous close.

According to Zacks, “Axon Enterprise, Inc. engages in the development, manufacture and sale of conducted electrical weapons for the law enforcement, federal, military, corrections, private security and personal defense markets. Its operating segment consists of TASER Weapons and Axon segments. TASER Weapons segment involves in the sale of conducted electrical weapons, accessories and other products and services. Axon segment focuses on devices, wearables, applications, cloud and mobile products. Axon Enterprise Inc., formerly known as TASER International Inc., is headquartered in Scottsdale, AZ. “

Several other research firms also recently weighed in on AAXN. Dougherty & Co upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Friday, April 5th. BidaskClub upgraded shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. ValuEngine upgraded shares of Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. TheStreet upgraded shares of Axon Enterprise from a “c+” rating to a “b-” rating in a research report on Monday, April 15th. Finally, Morgan Stanley raised their price objective on shares of Axon Enterprise from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Axon Enterprise presently has a consensus rating of “Buy” and an average price target of $70.08.

AAXN opened at $65.41 on Tuesday. Axon Enterprise has a 1-year low of $39.43 and a 1-year high of $76.45. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 130.82, a price-to-earnings-growth ratio of 4.80 and a beta of 0.94.

Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. Axon Enterprise had a net margin of 5.22% and a return on equity of 4.93%. The business had revenue of $115.81 million for the quarter, compared to the consensus estimate of $110.67 million. During the same period last year, the firm earned $0.29 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts predict that Axon Enterprise will post 0.54 EPS for the current fiscal year.

In other Axon Enterprise news, Director Michael Garnreiter sold 3,000 shares of Axon Enterprise stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the director now directly owns 33,261 shares in the company, valued at approximately $1,995,660. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Joshua Isner sold 631 shares of Axon Enterprise stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.53, for a total transaction of $33,777.43. Following the completion of the sale, the executive now owns 42,625 shares in the company, valued at $2,281,716.25. The disclosure for this sale can be found here. Insiders have sold a total of 204,857 shares of company stock worth $11,788,460 over the last 90 days. Insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flagship Harbor Advisors LLC increased its holdings 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 acquiring an additional 431 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Axon Enterprise by 14.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,440 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 311 shares during the last quarter. Stephens Inc. AR increased 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 acquiring an additional 1,900 shares during the last quarter. LS Investment Advisors LLC increased its holdings in Axon Enterprise by 22.7% in the 4th quarter. LS Investment Advisors LLC now owns 3,829 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 708 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Axon Enterprise by 14.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,854 shares of the industrial products company’s stock valued at $169,000 after acquiring an additional 491 shares during the last quarter. Institutional investors own 82.46% 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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