Axon Enterprise (NASDAQ:AAXN) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday, ValuEngine reports.

Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded Axon Enterprise from a “c+” rating to a “b-” rating in a research note on Monday, April 15th. Zacks Investment Research raised Axon Enterprise from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Tuesday, May 14th. Dougherty & Co raised 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. Northcoast Research raised 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. Finally, BidaskClub lowered Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $70.08.

AAXN stock traded up $0.68 during trading on Monday, hitting $67.46. 896,564 shares of the company’s stock were exchanged, compared to its average volume of 630,397. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 134.92, a PEG ratio of 4.76 and a beta of 0.89. Axon Enterprise has a 52-week low of $39.43 and a 52-week high of $76.45.

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

In other news, Director Richard H. Carmona sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $47.76, for a total value of $1,137,165.60. Following the transaction, the director now owns 94,457 shares of the company’s stock, valued at $4,511,266.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Luke Larson sold 15,383 shares of the business’s stock in a transaction that occurred 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 transaction, the president now directly owns 56,774 shares in the company, valued at approximately $3,810,103.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 203,246 shares of company stock worth $11,904,835. 2.30% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC acquired a new position in shares of Axon Enterprise in the first quarter valued at approximately $5,446,000. Flagship Harbor Advisors LLC increased its holdings in shares of Axon Enterprise by 324.1% in the first quarter. Flagship Harbor Advisors LLC now owns 564 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 431 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Axon Enterprise by 14.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,440 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 311 shares during the period. Stephens Inc. AR increased its holdings in shares of Axon Enterprise by 201.1% in the first quarter. Stephens Inc. AR now owns 2,845 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 1,900 shares during the period. Finally, CWM Advisors LLC acquired a new position in shares of Axon Enterprise in the first quarter valued at approximately $201,000. 80.16% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

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Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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