Axon Enterprise (NASDAQ:AXON) Releases Earnings Results, Beats Expectations By $0.18 EPS

Axon Enterprise (NASDAQ:AXON) released its earnings results on Tuesday. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.18, Briefing.com reports. The company had revenue of $504.00 million for the quarter, compared to analyst estimates of $478.35 million. Axon Enterprise had a return on equity of 9.73% and a net margin of 16.06%. Axon Enterprise’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. Axon Enterprise updated its FY 2024 guidance to EPS.

Axon Enterprise Trading Down 0.9 %

Axon Enterprise stock traded down $3.46 during trading hours on Friday, hitting $365.00. The stock had a trading volume of 997,480 shares, compared to its average volume of 527,072. The business’s 50 day simple moving average is $299.18 and its 200-day simple moving average is $295.51. Axon Enterprise has a one year low of $189.12 and a one year high of $371.99. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 107.74, a P/E/G ratio of 6.65 and a beta of 0.95. The company has a quick ratio of 2.55, a current ratio of 2.91 and a debt-to-equity ratio of 0.37.

Insider Transactions at Axon Enterprise

In related news, Director Julie A. Cullivan sold 993 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $281.72, for a total value of $279,747.96. Following the completion of the transaction, the director now owns 4,553 shares in the company, valued at approximately $1,282,671.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Axon Enterprise news, Director Julie A. Cullivan sold 478 shares of Axon Enterprise stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $286.04, for a total transaction of $136,727.12. Following the transaction, the director now directly owns 5,546 shares of the company’s stock, valued at approximately $1,586,377.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julie A. Cullivan sold 993 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $281.72, for a total value of $279,747.96. Following the completion of the sale, the director now owns 4,553 shares in the company, valued at approximately $1,282,671.16. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Axon Enterprise in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Bank of America assumed coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a “buy” rating and a $380.00 price objective for the company. Robert W. Baird raised their target price on Axon Enterprise from $355.00 to $360.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays boosted their price target on Axon Enterprise from $381.00 to $387.00 and gave the stock an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus target price of $358.08.

Axon Enterprise Company Profile

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, Software and Sensors, and TASER. 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.