Axon (AAXN) Research Coverage Started at William Blair

William Blair began coverage on shares of Axon (NASDAQ:AAXN) in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating on the industrial products company’s stock.

Other research analysts have also issued research reports about the company. Sidoti lowered Axon from a buy rating to a neutral rating and set a $40.00 price objective for the company. in a research report on Monday, March 5th. They noted that the move was a valuation call. Imperial Capital restated an in-line rating and set a $38.00 price objective (up previously from $25.00) on shares of Axon in a research report on Tuesday, March 20th. TheStreet upgraded Axon from a c rating to a b- rating in a research report on Tuesday, May 8th. LADENBURG THALM/SH SH restated a buy rating and set a $54.00 price objective on shares of Axon in a research report on Wednesday, May 9th. Finally, CL King lowered Axon from a buy rating to a neutral rating in a research report on Friday, March 16th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $49.14.

NASDAQ:AAXN opened at $63.68 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 235.85, a price-to-earnings-growth ratio of 4.50 and a beta of 0.76. Axon has a 52 week low of $20.57 and a 52 week high of $64.94.

Axon (NASDAQ:AAXN) last issued its quarterly earnings data on Tuesday, May 8th. The industrial products company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.20. The firm had revenue of $101.20 million during the quarter, compared to analyst estimates of $91.28 million. Axon had a return on equity of 13.07% and a net margin of 3.88%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. analysts predict that Axon will post 0.57 earnings per share for the current fiscal year.

In related news, CEO Patrick W. Smith sold 300,000 shares of Axon stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $53.00, for a total value of $15,900,000.00. Following the completion of the transaction, the chief executive officer now owns 862,684 shares in the company, valued at $45,722,252. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cortina Asset Management LLC grew its position in Axon by 9.7% in the fourth quarter. Cortina Asset Management LLC now owns 357,224 shares of the industrial products company’s stock worth $9,466,000 after acquiring an additional 31,543 shares in the last quarter. Roundview Capital LLC purchased a new position in shares of Axon during the fourth quarter valued at approximately $248,000. BlackRock Inc. boosted its position in shares of Axon by 3.8% during the fourth quarter. BlackRock Inc. now owns 8,539,258 shares of the industrial products company’s stock valued at $226,289,000 after buying an additional 313,954 shares during the period. Texas Yale Capital Corp. boosted its position in shares of Axon by 13.5% during the fourth quarter. Texas Yale Capital Corp. now owns 33,205 shares of the industrial products company’s stock valued at $880,000 after buying an additional 3,950 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Axon by 83.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 27,577 shares of the industrial products company’s stock valued at $731,000 after buying an additional 12,579 shares during the period. Institutional investors own 93.38% of the company’s stock.

About Axon

Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.

Analyst Recommendations for Axon (NASDAQ:AAXN)

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