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

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

Axon Enterprise Trading Down 0.9 %

Shares of AXON stock traded down $3.46 during trading hours on Friday, hitting $365.00. 997,480 shares of the company’s stock traded hands, compared to its average volume of 527,072. Axon Enterprise has a 12 month low of $189.12 and a 12 month high of $371.99. The company has a quick ratio of 2.55, a current ratio of 2.91 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $299.18 and its 200 day simple moving average is $295.51. The stock has a market cap of $27.55 billion, a PE ratio of 107.74, a price-to-earnings-growth ratio of 6.65 and a beta of 0.95.

Insider Transactions at Axon Enterprise

In other news, Director Julie A. Cullivan sold 993 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $281.72, for a total transaction of $279,747.96. Following the completion of the sale, the director now directly owns 4,553 shares in the company, valued at $1,282,671.16. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Julie A. Cullivan sold 993 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $281.72, for a total transaction of $279,747.96. Following the completion of the sale, the director now directly owns 4,553 shares in the company, valued at $1,282,671.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Julie A. Cullivan sold 478 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $286.04, for a total transaction of $136,727.12. Following the sale, the director now owns 5,546 shares of the company’s stock, valued at $1,586,377.84. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AXON. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Wednesday, April 24th. Craig Hallum increased their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Jefferies Financial Group initiated coverage on shares of Axon Enterprise in a research note on Wednesday, July 17th. They issued a “buy” rating and a $385.00 price objective for the company. Finally, Barclays increased their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus target price of $358.08.

About Axon Enterprise

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.