Axon Enterprise (NASDAQ:AXON) Downgraded by Zacks Research to “Hold”

Axon Enterprise (NASDAQ:AXON) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Several other research analysts also recently commented on AXON. TD Cowen dropped their price target on Axon Enterprise from $825.00 to $800.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Raymond James Financial set a $675.00 price objective on Axon Enterprise in a research report on Thursday, October 15th. Argus raised their price objective on shares of Axon Enterprise from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. The Goldman Sachs Group dropped their target price on shares of Axon Enterprise from $715.00 to $675.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. Finally, Morgan Stanley upped their target price on shares of Axon Enterprise from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $688.38.

Axon Enterprise Stock Up 1.8%

Axon Enterprise stock opened at $424.18 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80. Axon Enterprise has a fifty-two week low of $339.01 and a fifty-two week high of $665.07. The firm has a fifty day moving average price of $451.99 and a two-hundred day moving average price of $478.00. The firm has a market cap of $34.46 billion, a price-to-earnings ratio of 176.01, a P/E/G ratio of 7.92 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The business had revenue of $904.39 million for the quarter, compared to analyst estimates of $876.42 million. During the same period in the previous year, the company posted $2.12 earnings per share. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. As a group, analysts forecast that Axon Enterprise will post 2.10 earnings per share for the current year.

Insider Activity

In other Axon Enterprise news, insider Isaiah Fields sold 1,017 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the transaction, the insider directly owned 56,264 shares in the company, valued at $27,032,038.80. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Kunins sold 9,605 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $626.70, for a total value of $6,019,453.50. Following the completion of the transaction, the insider directly owned 97,761 shares in the company, valued at $61,266,818.70. The trade was a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,397 shares of company stock worth $26,722,984 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Institutional Trading of Axon Enterprise

Hedge funds and other institutional investors have recently modified their holdings of the stock. Keating Financial Advisory Services Inc. acquired a new stake in shares of Axon Enterprise during the second quarter worth $31,000. Washington Trust Advisors Inc. lifted its position in Axon Enterprise by 1,300.0% in the 2nd quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 65 shares in the last quarter. M & L Capital Management Ltd bought a new stake in Axon Enterprise in the 3rd quarter valued at $30,000. Wealth Enhancement Trust Services Inc. acquired a new position in Axon Enterprise in the 3rd quarter worth $33,000. Finally, Delos Wealth Advisors LLC acquired a new position in Axon Enterprise in the 2nd quarter worth $45,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and connected products for public safety organizations. The company’s portfolio includes TASER conducted-energy weapons, body-worn cameras, in-car cameras, and related hardware designed to support law enforcement, corrections, security, and other emergency-response professionals.

Axon also provides cloud-based software for managing digital evidence, records, workflows, real-time operations, investigations, and communications. Its platform is intended to connect hardware, software, and services across the public-safety ecosystem, helping agencies collect, store, analyze, and share operational information.

The company was founded in 1993 as TASER International by Rick Smith and Tom Smith and adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into a broader technology platform.