Imperial Capital Upgrades Axon Enterprise (NASDAQ:AAXN) to Outperform

Axon Enterprise (NASDAQ:AAXN) was upgraded by analysts at Imperial Capital from an “in-line” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Briefing.com Automated Import reports. The firm currently has a $68.00 price objective on the industrial products company’s stock. Imperial Capital’s price objective suggests a potential upside of 15.69% from the stock’s previous close.

Other analysts have also recently issued reports about the company. TheStreet cut Axon Enterprise from a “b-” rating to a “c+” rating in a report on Wednesday, July 10th. Needham & Company LLC cut Axon Enterprise from a “buy” rating to a “hold” rating in a report on Friday, August 9th. ValuEngine cut Axon Enterprise from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley upped their price objective on Axon Enterprise from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $81.00 price objective (up from $73.00) on shares of Axon Enterprise in a report on Thursday, June 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $72.22.

Shares of AAXN opened at $58.78 on Wednesday. The stock has a market cap of $3.53 billion, a PE ratio of 117.56, a price-to-earnings-growth ratio of 4.12 and a beta of 0.76. Axon Enterprise has a 1 year low of $39.43 and a 1 year high of $74.93. The business’s 50 day moving average price is $65.42.

Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.05). The firm had revenue of $112.36 million for the quarter, compared to analysts’ expectations of $115.41 million. Axon Enterprise had a return on equity of 3.23% and a net margin of 3.34%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, equities analysts predict that Axon Enterprise will post 0.56 earnings per share for the current year.

In other news, CEO Patrick W. Smith sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $70.08, for a total transaction of $3,504,000.00. Following the transaction, the chief executive officer now owns 701,562 shares of the company’s stock, valued at approximately $49,165,464.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $66.65, for a total value of $66,650.00. Following the transaction, the director now directly owns 32,657 shares in the company, valued at approximately $2,176,589.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,383 shares of company stock worth $4,603,003. Corporate insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AAXN. Flagship Harbor Advisors LLC grew its position 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. Quad Cities Investment Group LLC grew its position in Axon Enterprise by 400.0% in the 2nd quarter. Quad Cities Investment Group LLC now owns 500 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. Executive Wealth Management LLC bought a new position in Axon Enterprise in the 2nd quarter valued at $32,000. Steward Partners Investment Advisory LLC bought a new position in Axon Enterprise in the 2nd quarter valued at $103,000. Finally, Stephens Inc. AR grew its position 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. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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