Analysts Expect Axon Enterprise, Inc. (NASDAQ:AAXN) Will Post Quarterly Sales of $150.34 Million

Analysts forecast that Axon Enterprise, Inc. (NASDAQ:AAXN) will report $150.34 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Axon Enterprise’s earnings. The highest sales estimate is $151.10 million and the lowest is $149.40 million. Axon Enterprise reported sales of $130.84 million during the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 5th.

On average, analysts expect that Axon Enterprise will report full year sales of $609.32 million for the current year, with estimates ranging from $587.10 million to $620.25 million. For the next year, analysts expect that the business will post sales of $708.11 million, with estimates ranging from $674.50 million to $737.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Axon Enterprise.

Axon Enterprise (NASDAQ:AAXN) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.17). Axon Enterprise had a negative net margin of 5.58% and a negative return on equity of 5.32%. The company had revenue of $141.26 million for the quarter, compared to the consensus estimate of $133.36 million. During the same period last year, the business earned $0.14 EPS. The firm’s quarterly revenue was up 25.7% on a year-over-year basis.

A number of research firms recently weighed in on AAXN. Zacks Investment Research lowered Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Tuesday, July 14th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, August 26th. BidaskClub raised Axon Enterprise from a “buy” rating to a “strong-buy” rating in a research report on Saturday. ValuEngine upgraded Axon Enterprise from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Finally, Morgan Stanley increased their target price on Axon Enterprise from $87.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $100.67.

In other news, CFO Jawad A. Ahsan sold 5,185 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $106.00, for a total value of $549,610.00. Following the transaction, the chief financial officer now directly owns 60,837 shares in the company, valued at approximately $6,448,722. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Patrick W. Smith sold 98,000 shares of the firm’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $98.20, for a total value of $9,623,600.00. Following the completion of the transaction, the chief executive officer now owns 567,555 shares in the company, valued at $55,733,901. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,684 shares of company stock worth $11,506,209. Company insiders own 1.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Highland Capital Management LLC bought a new position in Axon Enterprise in the 3rd quarter worth $2,117,000. Juncture Wealth Strategies LLC raised its holdings in Axon Enterprise by 72.8% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 5,912 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 2,490 shares during the period. Diversified Trust Co bought a new position in Axon Enterprise in the 3rd quarter worth $408,000. Harbour Capital Advisors LLC raised its holdings in Axon Enterprise by 65.2% in the 3rd quarter. Harbour Capital Advisors LLC now owns 5,575 shares of the industrial products company’s stock worth $506,000 after purchasing an additional 2,200 shares during the period. Finally, Beese Fulmer Investment Management Inc. raised its holdings in Axon Enterprise by 61.3% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 3,080 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 1,170 shares during the period. Hedge funds and other institutional investors own 83.12% of the company’s stock.

AAXN stock opened at $109.16 on Thursday. Axon Enterprise has a twelve month low of $49.80 and a twelve month high of $109.74. The firm has a market cap of $6.93 billion, a PE ratio of -198.47 and a beta of 0.55. The business has a 50 day moving average of $88.46 and a 200 day moving average of $84.57.

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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Earnings History and Estimates for Axon Enterprise (NASDAQ:AAXN)

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