Axon Enterprise (NASDAQ:AAXN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Axon Enterprise (NASDAQ:AAXN) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

According to Zacks, “Axon Enterprise, Inc. engages in the development, manufacture and sale of conducted electrical weapons for the law enforcement, federal, military, corrections, private security and personal defense markets. Its operating segment consists of TASER Weapons and Axon segments. TASER Weapons segment involves in the sale of conducted electrical weapons, accessories and other products and services. Axon segment focuses on devices, wearables, applications, cloud and mobile products. Axon Enterprise Inc., formerly known as TASER International Inc., is headquartered in Scottsdale, AZ. “

Other research analysts also recently issued research reports about the stock. Northcoast Research upgraded shares of Axon Enterprise from a neutral rating to a buy rating and set a $63.00 price target on the stock in a research report on Tuesday, March 19th. TheStreet downgraded shares of Upland Software from a b- rating to a c+ rating in a research report on Wednesday, July 10th. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Dougherty & Co upgraded shares of Axon Enterprise from a neutral rating to a buy rating and set a $67.00 price target on the stock in a research report on Friday, April 5th. Finally, BidaskClub downgraded shares of Amyris from a hold rating to a sell rating in a research report on Thursday, June 27th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $71.00.

AAXN opened at $63.78 on Friday. Axon Enterprise has a fifty-two week low of $39.43 and a fifty-two week high of $76.45. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 165.38, a price-to-earnings-growth ratio of 4.60 and a beta of 0.79. The stock’s 50 day simple moving average is $67.40.

Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. The firm had revenue of $115.81 million for the quarter, compared to the consensus estimate of $110.67 million. Axon Enterprise had a net margin of 5.22% and a return on equity of 4.93%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. As a group, analysts expect that Axon Enterprise will post 0.56 earnings per share for the current fiscal year.

In other news, President Luke Larson sold 15,383 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $67.11, for a total value of $1,032,353.13. Following the completion of the sale, the president now owns 56,774 shares in the company, valued at approximately $3,810,103.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Patrick W. Smith sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 701,562 shares of the company’s stock, valued at approximately $49,165,464.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,183 shares of company stock worth $10,260,033. Corporate insiders own 2.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AAXN. Flagship Harbor Advisors LLC grew its position in Axon Enterprise by 324.1% during the first quarter. Flagship Harbor Advisors LLC now owns 564 shares of the industrial products company’s stock valued at $30,000 after buying an additional 431 shares during the period. Stephens Inc. AR grew its position in Axon Enterprise by 201.1% during the first quarter. Stephens Inc. AR now owns 2,845 shares of the industrial products company’s stock valued at $155,000 after buying an additional 1,900 shares during the period. Wade G W & Inc. bought a new position in Axon Enterprise during the first quarter valued at about $209,000. LS Investment Advisors LLC grew its position in Axon Enterprise by 6.8% during the first quarter. LS Investment Advisors LLC now owns 4,088 shares of the industrial products company’s stock valued at $222,000 after buying an additional 259 shares during the period. Finally, Sheaff Brock Investment Advisors LLC bought a new position in Axon Enterprise during the first quarter valued at about $228,000. Hedge funds and other institutional investors own 80.26% of the company’s stock.

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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