Axon Enterprise (AAXN) Received New Coverage from Analysts at Raymond James

Axon Enterprise (AAXN) Received New Coverage from Analysts at Raymond James

Equities researchers at Raymond James started coverage on shares of Axon Enterprise (NASDAQ:AAXN) in a note issued to investors on Friday, September 14th, MarketBeat.com reports. The brokerage set an “outperform” rating and a $79.00 price target on the industrial products company’s stock. Raymond James’ price objective would suggest a potential upside of 25.72% from the company’s previous close.

Several other equities analysts have also recently issued reports on AAXN. JPMorgan Chase & Co. set a $66.00 price objective on Axon Enterprise and gave the company a “buy” rating in a research note on Monday, May 21st. William Blair initiated coverage on Axon Enterprise in a research note on Tuesday, May 29th. They issued an “outperform” rating for the company. BidaskClub cut Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 18th. Zacks Investment Research cut Axon Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Finally, Robert W. Baird initiated coverage on Axon Enterprise in a research note on Friday, June 29th. They issued a “neutral” rating and a $68.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $62.64.

Axon Enterprise stock traded down $0.57 during midday trading on Friday, reaching $62.84. 499,800 shares of the stock traded hands, compared to its average volume of 948,650. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 235.59, a price-to-earnings-growth ratio of 5.34 and a beta of 1.01. Axon Enterprise has a 12-month low of $20.57 and a 12-month high of $76.45.

Axon Enterprise (NASDAQ:AAXN) last announced its quarterly earnings data on Tuesday, August 7th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The business had revenue of $99.23 million during the quarter, compared to analysts’ expectations of $95.74 million. Axon Enterprise had a return on equity of 11.80% and a net margin of 5.35%. Equities research analysts anticipate that Axon Enterprise will post 0.51 EPS for the current year.

In other news, Director Mark W. Kroll sold 3,100 shares of the firm’s stock in a transaction dated Sunday, December 16th. The stock was sold at an average price of $22.85, for a total transaction of $70,835.00. Following the sale, the director now owns 55,135 shares of the company’s stock, valued at approximately $1,259,834.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $68.00, for a total value of $68,000.00. Following the sale, the director now directly owns 38,261 shares in the company, valued at approximately $2,601,748. The disclosure for this sale can be found here. Insiders have sold a total of 39,297 shares of company stock worth $2,562,425 in the last three months. Corporate insiders own 3.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mason Street Advisors LLC increased its position in Axon Enterprise by 6.9% during the first quarter. Mason Street Advisors LLC now owns 14,712 shares of the industrial products company’s stock worth $578,000 after buying an additional 950 shares during the period. Amalgamated Bank increased its position in Axon Enterprise by 13.9% during the second quarter. Amalgamated Bank now owns 8,566 shares of the industrial products company’s stock worth $541,000 after buying an additional 1,043 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Axon Enterprise by 19.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,776 shares of the industrial products company’s stock worth $428,000 after buying an additional 1,113 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Axon Enterprise by 5.9% during the first quarter. Municipal Employees Retirement System of Michigan now owns 21,180 shares of the industrial products company’s stock worth $833,000 after buying an additional 1,180 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Axon Enterprise by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 25,081 shares of the industrial products company’s stock worth $1,585,000 after buying an additional 1,274 shares during the period. 82.23% of the stock is currently owned by institutional investors.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors. It offers TASER X26P and TASER X2 smart weapons for law enforcement; consumer CEWs; and replacement cartridges and consumables, as well as performance power magazines.

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