Axon Enterprise (NASDAQ:AXON) Issues Earnings Results, Beats Expectations By $0.16 EPS

Axon Enterprise (NASDAQ:AXONGet Rating) posted its earnings results on Tuesday. The biotechnology company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16, MarketWatch Earnings reports. Axon Enterprise had a negative net margin of 6.95% and a negative return on equity of 5.62%. The business had revenue of $256.43 million for the quarter, compared to the consensus estimate of $233.57 million. During the same quarter last year, the firm posted ($0.75) EPS. The company’s revenue for the quarter was up 31.5% on a year-over-year basis.

AXON stock opened at $89.46 on Wednesday. The stock has a market capitalization of $6.35 billion, a PE ratio of -90.36 and a beta of 0.55. Axon Enterprise has a 52 week low of $85.88 and a 52 week high of $209.00. The firm has a 50 day moving average of $125.15 and a 200 day moving average of $143.61.

Several equities analysts recently issued reports on AXON shares. Robert W. Baird cut their price objective on shares of Axon Enterprise from $145.00 to $125.00 in a report on Wednesday. JPMorgan Chase & Co. raised Axon Enterprise from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $222.00 to $192.00 in a research report on Friday, February 25th. Zacks Investment Research upgraded Axon Enterprise from a “sell” rating to a “hold” rating in a research note on Friday, March 4th. Needham & Company LLC decreased their price target on shares of Axon Enterprise from $250.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Finally, Credit Suisse Group began coverage on shares of Axon Enterprise in a research report on Monday. They issued an “outperform” rating and a $169.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $185.11.

In related news, CFO Jawad A. Ahsan sold 4,840 shares of the company’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $141.17, for a total value of $683,262.80. Following the transaction, the chief financial officer now directly owns 360,019 shares of the company’s stock, valued at approximately $50,823,882.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.90% of the company’s stock.

A number of large investors have recently modified their holdings of AXON. Silvercrest Asset Management Group LLC lifted its stake in Axon Enterprise by 10.6% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 2,983 shares of the biotechnology company’s stock valued at $468,000 after acquiring an additional 286 shares during the period. Advisors Asset Management Inc. lifted its position in Axon Enterprise by 11.6% during the fourth quarter. Advisors Asset Management Inc. now owns 5,064 shares of the biotechnology company’s stock valued at $795,000 after purchasing an additional 525 shares during the period. Stifel Financial Corp boosted its holdings in Axon Enterprise by 32.7% in the fourth quarter. Stifel Financial Corp now owns 6,284 shares of the biotechnology company’s stock valued at $987,000 after purchasing an additional 1,550 shares during the last quarter. MML Investors Services LLC grew its position in Axon Enterprise by 16.0% during the 4th quarter. MML Investors Services LLC now owns 7,025 shares of the biotechnology company’s stock worth $1,103,000 after purchasing an additional 969 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of Axon Enterprise by 9.8% during the 4th quarter. Penserra Capital Management LLC now owns 14,363 shares of the biotechnology company’s stock valued at $2,041,000 after buying an additional 1,284 shares during the last quarter. Institutional investors own 72.06% of the company’s stock.

Axon Enterprise Company Profile (Get Rating)

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, TASER, and Software and Sensors. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.

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Earnings History for Axon Enterprise (NASDAQ:AXON)

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