Brokerages Expect Axon Enterprise Inc (AAXN) Will Post Quarterly Sales of $82.06 Million
Equities analysts expect that Axon Enterprise Inc (NASDAQ:AAXN) will announce sales of $82.06 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Axon Enterprise’s earnings, with the highest sales estimate coming in at $83.61 million and the lowest estimate coming in at $80.56 million. Axon Enterprise posted sales of $71.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Axon Enterprise will report full year sales of $82.06 million for the current financial year, with estimates ranging from $322.70 million to $333.43 million. For the next fiscal year, analysts expect that the firm will report sales of $373.34 million per share, with estimates ranging from $355.30 million to $388.81 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Axon Enterprise.
Axon Enterprise (NASDAQ:AAXN) last announced its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $79.64 million during the quarter, compared to the consensus estimate of $74.46 million. Axon Enterprise had a net margin of 2.86% and a return on equity of 5.69%. The company’s quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS.
Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. ValuEngine upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.50.
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Shares of Axon Enterprise (AAXN) traded up 0.53% during mid-day trading on Thursday, hitting $24.44. 415,563 shares of the stock traded hands. The firm’s 50-day moving average is $22.68 and its 200-day moving average is $23.91. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 76.38 and a beta of 0.98. Axon Enterprise has a 52 week low of $21.18 and a 52 week high of $28.49.
Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of Axon Enterprise in the second quarter worth about $4,363,000. State of Tennessee Treasury Department acquired a new position in Axon Enterprise in the 2nd quarter worth about $1,229,000. PDT Partners LLC acquired a new position in Axon Enterprise in the 2nd quarter worth about $780,000. FMR LLC acquired a new position in Axon Enterprise in the 2nd quarter worth about $198,826,000. Finally, Brighton Jones LLC acquired a new position in Axon Enterprise in the 2nd quarter worth about $303,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.
Axon Enterprise Company Profile
Axon Enterprise, Inc, formerly TASER International, Inc, is engaged in development, manufacture and sale of conducted electrical weapons (CEWs) for use by law enforcement, military, corrections and private security personnel, and by private individuals for personal defense. It is also engaged in development of connected wearable on-officer cameras.
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