ValuEngine Upgrades Axon Enterprise (NASDAQ:AAXN) to “Strong-Buy”

ValuEngine upgraded shares of Axon Enterprise (NASDAQ:AAXN) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning, ValuEngine reports.

Several other brokerages have also issued reports on AAXN. Zacks Investment Research lowered Axon Enterprise from a buy rating to a sell rating in a research note on Wednesday, August 14th. TheStreet lowered Axon Enterprise from a b- rating to a c+ rating in a research note on Wednesday, July 10th. Imperial Capital raised Axon Enterprise from an in-line rating to an outperform rating and set a $68.00 price target on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. reaffirmed 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, Needham & Company LLC lowered Axon Enterprise from a buy rating to a hold rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Axon Enterprise currently has an average rating of Buy and a consensus price target of $71.38.

Shares of AAXN stock opened at $66.15 on Friday. The stock’s fifty day moving average is $62.43 and its 200-day moving average is $62.28. The stock has a market capitalization of $3.92 billion, a PE ratio of 132.30, a PEG ratio of 8.51 and a beta of 0.71. Axon Enterprise has a 52 week low of $39.43 and a 52 week high of $74.93.

Axon Enterprise (NASDAQ:AAXN) last announced its earnings results on Thursday, August 8th. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $112.36 million for the quarter, compared to the consensus estimate of $115.41 million. Axon Enterprise had a return on equity of 3.19% and a net margin of 3.34%. Axon Enterprise’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Equities research analysts forecast that Axon Enterprise will post 0.51 earnings per share for the current year.

In other news, Director Julie A. Cullivan sold 1,360 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.86, for a total transaction of $78,689.60. Following the transaction, the director now owns 7,815 shares of the company’s stock, valued at $452,175.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Freestone Capital Holdings LLC acquired a new position in Axon Enterprise in the first quarter valued at about $5,446,000. Quad Cities Investment Group LLC lifted its stake in Axon Enterprise by 400.0% in the second quarter. Quad Cities Investment Group LLC now owns 500 shares of the industrial products company’s stock valued at $32,000 after buying an additional 400 shares during the period. Executive Wealth Management LLC acquired a new position in Axon Enterprise in the second quarter valued at about $32,000. Griffin Asset Management Inc. acquired a new position in Axon Enterprise in the second quarter valued at about $40,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Axon Enterprise in the second quarter valued at about $103,000. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

About Axon Enterprise

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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Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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