Analysts Expect Axon Enterprise Inc (AAXN) Will Announce Quarterly Sales of $102.74 Million

Equities analysts expect Axon Enterprise Inc (NASDAQ:AAXN) to post $102.74 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Axon Enterprise’s earnings, with the lowest sales estimate coming in at $101.07 million and the highest estimate coming in at $104.34 million. Axon Enterprise posted sales of $73.99 million during the same quarter last year, which would indicate a positive year over year growth rate of 38.9%. The company is expected to announce its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Axon Enterprise will report full-year sales of $411.41 million for the current year, with estimates ranging from $409.27 million to $414.04 million. For the next fiscal year, analysts anticipate that the firm will post sales of $480.84 million, with estimates ranging from $477.49 million to $485.95 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Axon Enterprise.

Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.11. The business had revenue of $99.23 million for the quarter, compared to analyst estimates of $95.74 million. Axon Enterprise had a return on equity of 11.80% and a net margin of 5.35%.

A number of analysts recently commented on AAXN shares. BidaskClub lowered Axon Enterprise from a “strong-buy” rating to a “buy” rating in a report on Monday, June 18th. Zacks Investment Research lowered Axon Enterprise from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. Robert W. Baird started coverage on Axon Enterprise in a report on Friday, June 29th. They set a “neutral” rating and a $68.00 price target on the stock. Morgan Stanley started coverage on Axon Enterprise in a report on Monday, July 2nd. They set an “overweight” rating and a $75.00 price target on the stock. Finally, Needham & Company LLC started coverage on Axon Enterprise in a report on Friday, July 20th. They set a “buy” rating and a $80.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.64.

Shares of Axon Enterprise stock opened at $58.86 on Friday. The firm has a market cap of $3.99 billion, a P/E ratio of 213.41, a price-to-earnings-growth ratio of 5.34 and a beta of 1.01. Axon Enterprise has a 12 month low of $20.57 and a 12 month high of $76.45.

In other news, Director Mark W. Kroll sold 3,100 shares of Axon Enterprise stock in a transaction on Sunday, December 16th. The stock was sold at an average price of $22.85, for a total value of $70,835.00. Following the completion of the transaction, the director now directly owns 55,135 shares in the company, valued at $1,259,834.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas E. Klint sold 25,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $69.82, for a total value of $1,745,500.00. Following the completion of the transaction, the insider now owns 104,341 shares of the company’s stock, valued at $7,285,088.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,297 shares of company stock worth $2,562,425. Corporate insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AAXN. BlackRock Inc. grew its position in shares of Axon Enterprise by 7.6% in the second quarter. BlackRock Inc. now owns 9,083,739 shares of the industrial products company’s stock valued at $573,912,000 after purchasing an additional 637,690 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Axon Enterprise in the second quarter valued at $16,797,000. Canada Pension Plan Investment Board purchased a new position in shares of Axon Enterprise in the second quarter valued at $14,197,000. Zevenbergen Capital Investments LLC purchased a new position in shares of Axon Enterprise in the second quarter valued at $10,420,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Axon Enterprise in the first quarter valued at $6,455,000. Institutional investors own 82.23% of the company’s stock.

About Axon Enterprise

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.

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