Axon Enterprise, Inc. (NASDAQ:AXON – Get Rating) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $111.62, but opened at $119.25. Axon Enterprise shares last traded at $128.10, with a volume of 9,208 shares trading hands.
The biotechnology company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. Axon Enterprise had a net margin of 4.62% and a return on equity of 3.90%. The company had revenue of $285.61 million during the quarter, compared to the consensus estimate of $258.96 million. During the same period in the previous year, the business earned ($0.72) earnings per share. The firm's quarterly revenue was up 30.5% on a year-over-year basis.
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Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on AXON shares. Northland Securities dropped their price target on shares of Axon Enterprise from $180.00 to $130.00 in a research report on Thursday, May 12th. StockNews.com upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating in a research report on Saturday, June 18th. Credit Suisse Group boosted their price objective on shares of Axon Enterprise from $134.00 to $142.00 and gave the company an "outperform" rating in a research report on Wednesday. Morgan Stanley downgraded shares of Axon Enterprise from an "overweight" rating to an "equal weight" rating and set a $120.00 price objective for the company. in a research report on Monday, May 23rd. Finally, JMP Securities restated a "buy" rating and set a $195.00 price objective on shares of Axon Enterprise in a research report on Wednesday, June 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average price target of $163.25.
Insiders Place Their Bets
In related news, Director Mark W. Kroll sold 3,159 shares of the business's stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $102.82, for a total value of $324,808.38. Following the sale, the director now owns 13,691 shares of the company's stock, valued at $1,407,708.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.90% of the company's stock.
Institutional Trading of Axon Enterprise
Institutional investors have recently modified their holdings of the business. Prospera Financial Services Inc bought a new stake in shares of Axon Enterprise in the first quarter worth $27,000. Trust Co. of Vermont bought a new stake in Axon Enterprise in the 2nd quarter worth about $28,000. Retirement Planning Co of New England Inc. bought a new stake in Axon Enterprise in the 4th quarter worth about $31,000. Sandy Spring Bank grew its position in Axon Enterprise by 230.0% in the 2nd quarter. Sandy Spring Bank now owns 330 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 230 shares in the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in Axon Enterprise in the 4th quarter worth about $32,000. Institutional investors own 72.06% of the company's stock.
Axon Enterprise Stock Up 12.9 %
The company has a current ratio of 2.43, a quick ratio of 2.18 and a debt-to-equity ratio of 0.02. The stock's 50-day simple moving average is $97.61 and its 200-day simple moving average is $112.50. The firm has a market capitalization of $8.95 billion, a P/E ratio of 242.45 and a beta of 0.66.
Axon Enterprise Company Profile
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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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