Axon Enterprise (NASDAQ:AXON) Reaches New 1-Year Low – Here’s Why

Shares of Axon Enterprise, Inc (NASDAQ:AXON) reached a new 52-week low on Tuesday . The company traded as low as $387.80 and last traded at $391.4010, with a volume of 159891 shares trading hands. The stock had previously closed at $413.07.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AXON. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a report on Friday, March 27th. Wall Street Zen raised Axon Enterprise from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Needham & Company LLC decreased their price objective on shares of Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Barclays decreased their price objective on shares of Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Axon Enterprise has a consensus rating of “Moderate Buy” and an average target price of $762.93.

Axon Enterprise Price Performance

The stock has a market capitalization of $30.96 billion, a P/E ratio of 253.44, a PEG ratio of 8.81 and a beta of 1.61. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $478.24 and a two-hundred day simple moving average of $575.44.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings data on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.55. Axon Enterprise had a return on equity of 2.82% and a net margin of 4.48%.The firm had revenue of $796.72 million during the quarter, compared to analysts’ expectations of $755.29 million. During the same period in the previous year, the business posted $2.08 EPS. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Axon Enterprise news, Director Erika Nardini sold 198 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the sale, the director directly owned 1,946 shares in the company, valued at $985,804.68. This represents a 9.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer H. Mak sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $573.45, for a total transaction of $860,175.00. Following the completion of the transaction, the chief accounting officer owned 12,240 shares of the company’s stock, valued at $7,019,028. This trade represents a 10.92% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,855 shares of company stock valued at $13,299,928. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axon Enterprise

Several hedge funds have recently modified their holdings of AXON. Creative Financial Designs Inc. ADV bought a new position in shares of Axon Enterprise in the 4th quarter valued at about $28,000. Stone House Investment Management LLC bought a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $29,000. New Millennium Group LLC bought a new stake in shares of Axon Enterprise in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC raised its holdings in shares of Axon Enterprise by 550.0% in the 4th quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 44 shares during the period. Finally, Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise in the 4th quarter valued at about $30,000. Institutional investors own 79.08% of the company’s stock.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.