TheStreet downgraded shares of Axon Enterprise (NASDAQ:AAXN) from a b- rating to a c+ rating in a report published on Wednesday, TheStreetRatingsTable reports.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a research note on Wednesday. JPMorgan Chase & Co. restated an underweight rating and set a GBX 650 ($8.49) target price on shares of in a research note on Thursday, June 20th. BidaskClub downgraded Amyris from a hold rating to a sell rating in a research note on Thursday, June 27th. Northcoast Research upgraded Axon Enterprise from a neutral rating to a buy rating and set a $63.00 target price for the company in a research note on Tuesday, March 19th. Finally, ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $71.00.
AAXN opened at $64.50 on Wednesday. The company has a market cap of $3.72 billion, a P/E ratio of 129.00, a PEG ratio of 4.48 and a beta of 0.79. The business’s 50-day moving average is $67.57. Axon Enterprise has a 52-week low of $39.43 and a 52-week high of $76.45.
Axon Enterprise (NASDAQ:AAXN) last released its quarterly earnings results on Thursday, May 9th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. The company had revenue of $115.81 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 EPS. On average, sell-side analysts forecast that Axon Enterprise will post 0.56 EPS for the current fiscal year.
In related news, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $63.83, for a total transaction of $63,830.00. Following the completion of the sale, the director now owns 30,261 shares in the company, valued at approximately $1,931,559.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick W. Smith sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $70.08, for a total value of $3,504,000.00. Following 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 valued at $10,260,033. 2.30% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in AAXN. Conestoga Capital Advisors LLC bought a new stake in shares of Axon Enterprise in the 1st quarter worth approximately $42,758,000. Norges Bank bought a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $23,529,000. Janus Henderson Group PLC lifted its position in shares of Axon Enterprise by 13.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,501,104 shares of the industrial products company’s stock worth $244,905,000 after acquiring an additional 520,055 shares during the period. Baillie Gifford & Co. bought a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $16,653,000. Finally, Ranger Investment Management L.P. bought a new stake in shares of Axon Enterprise in the 4th quarter worth approximately $11,587,000. Institutional investors own 80.15% 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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