TheStreet Downgrades Axon Enterprise (NASDAQ:AAXN) to C+

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Axon Enterprise (NASDAQ:AAXN) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.

Several other brokerages have also commented on AAXN. Northcoast Research upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Tuesday, March 19th. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Morgan Stanley restated an “overweight” rating and issued a GBX 2,280 ($29.79) price objective on shares of Anglo American in a report on Wednesday, May 8th. Raymond James reiterated a “buy” rating on shares of First Quantum Minerals in a research note on Monday, April 8th. Finally, Dougherty & Co upgraded shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $71.00.

NASDAQ AAXN traded down $0.03 during trading on Wednesday, hitting $62.89. The company had a trading volume of 163,978 shares, compared to its average volume of 1,497,935. Axon Enterprise has a one year low of $39.43 and a one year high of $76.45. The firm has a market capitalization of $3.72 billion, a P/E ratio of 125.78, a price-to-earnings-growth ratio of 4.51 and a beta of 0.79. The stock has a fifty day simple moving average of $67.64.

Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. Axon Enterprise had a net margin of 5.22% and a return on equity of 4.93%. The business had revenue of $115.81 million during the quarter, compared to analyst estimates of $110.67 million. During the same period in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts expect that Axon Enterprise will post 0.56 earnings per share for the current fiscal year.

In related news, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $63.83, for a total value of $63,830.00. Following the completion of the transaction, the director now directly owns 30,261 shares in the company, valued at approximately $1,931,559.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hadi Partovi sold 70,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $66.16, for a total transaction of $4,631,200.00. Following the completion of the transaction, the director now owns 268,190 shares of the company’s stock, valued at $17,743,450.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,183 shares of company stock valued at $10,260,033. 2.30% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC grew its position in Axon Enterprise by 324.1% during the 1st 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 last quarter. Stephens Inc. AR grew its position in Axon Enterprise by 201.1% during the 1st 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 last quarter. Wade G W & Inc. purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at about $209,000. LS Investment Advisors LLC boosted its holdings in shares of Axon Enterprise by 6.8% during the 1st quarter. LS Investment Advisors LLC now owns 4,088 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 259 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Axon Enterprise during the 1st quarter valued at about $228,000. 80.15% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Axon Enterprise (NASDAQ:AAXN)

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