Zacks Investment Research Upgrades Axon Enterprise (AAXN) to “Hold”

Axon Enterprise (NASDAQ:AAXN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Axon Enterprise, Inc. engages in the development, manufacture and sale of conducted electrical weapons for the law enforcement, federal, military, corrections, private security and personal defense markets. Its operating segment consists of TASER Weapons and Axon segments. TASER Weapons segment involves in the sale of conducted electrical weapons, accessories and other products and services. Axon segment focuses on devices, wearables, applications, cloud and mobile products. Axon Enterprise Inc., formerly known as TASER International Inc., is headquartered in Scottsdale, AZ. “

Several other equities analysts have also weighed in on the company. BidaskClub lowered Axon Enterprise from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. increased their target price on Axon Enterprise from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, December 21st. Oppenheimer restated a “hold” rating on shares of Axon Enterprise in a report on Friday, November 17th. Finally, Dougherty & Co lowered their price target on Axon Enterprise from $36.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Axon Enterprise has an average rating of “Hold” and a consensus price target of $29.20.

Shares of Axon Enterprise (NASDAQ:AAXN) traded down $0.27 on Wednesday, hitting $27.29. The stock had a trading volume of 447,300 shares, compared to its average volume of 472,730. Axon Enterprise has a twelve month low of $20.57 and a twelve month high of $28.17. The firm has a market capitalization of $1,460.00, a price-to-earnings ratio of 109.16, a PEG ratio of 3.94 and a beta of 1.19.

Axon Enterprise (NASDAQ:AAXN) last released its earnings results on Tuesday, November 7th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). Axon Enterprise had a net margin of 4.32% and a return on equity of 7.91%. The company had revenue of $90.26 million during the quarter, compared to analyst estimates of $82.89 million. During the same period in the previous year, the company posted $0.07 EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. sell-side analysts expect that Axon Enterprise will post 0.14 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of AAXN. Schwab Charles Investment Management Inc. bought a new position in shares of Axon Enterprise during the second quarter worth about $5,623,000. First Trust Advisors LP bought a new position in shares of Axon Enterprise during the second quarter worth about $504,000. SG Americas Securities LLC bought a new position in shares of Axon Enterprise during the second quarter worth about $118,000. Bank of New York Mellon Corp bought a new position in shares of Axon Enterprise during the second quarter worth about $14,463,000. Finally, Legal & General Group Plc bought a new position in shares of Axon Enterprise during the second quarter worth about $2,502,000. Institutional investors and hedge funds own 95.73% of the company’s stock.

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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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