Axon Enterprise (NASDAQ:AXON) Cut to Hold at Zacks Research

Key Points

• Axon Enterprise was downgraded from a "strong-buy" rating to a "hold" rating by Zacks Research, influencing investor sentiment.
• Despite the downgrade, 13 analysts maintain a "Buy" rating for the stock, with a consensus price target of $837.69.
• Axon reported a quarterly revenue of $668.54 million, reflecting a 32.6% year-over-year increase and surpassing analysts' expectations.

Zacks Research lowered shares of Axon Enterprise (NASDAQ:AXON - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

AXON has been the topic of several other research reports. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a report on Tuesday, August 5th. Bank of America lifted their price target on Axon Enterprise from $895.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Raymond James Financial restated an "outperform" rating and issued a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and issued a $840.00 price target (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their price objective on Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $837.69.

Axon Enterprise Trading Up 1.7%

Shares of Axon Enterprise stock traded up $12.20 during trading hours on Tuesday, reaching $740.61. The stock had a trading volume of 589,058 shares, compared to its average volume of 692,129. The firm has a market capitalization of $58.14 billion, a price-to-earnings ratio of 182.87, a P/E/G ratio of 26.73 and a beta of 1.40. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. Axon Enterprise has a 1 year low of $353.91 and a 1 year high of $885.91. The firm has a 50 day simple moving average of $765.93 and a two-hundred day simple moving average of $680.55.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business had revenue of $668.54 million for the quarter, compared to the consensus estimate of $641.77 million. During the same period last year, the business posted $1.20 EPS. The company's revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Axon Enterprise will post 5.8 earnings per share for the current year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, Director Hadi Partovi bought 1,358 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the completion of the purchase, the director directly owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This trade represents a 0.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer H. Mak sold 75 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $723.50, for a total value of $54,262.50. Following the sale, the chief accounting officer owned 15,080 shares of the company's stock, valued at $10,910,380. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,865 shares of company stock valued at $26,926,433. Insiders own 5.70% of the company's stock.

Institutional Trading of Axon Enterprise

A number of large investors have recently bought and sold shares of AXON. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Axon Enterprise in the 1st quarter valued at about $1,110,000. Quotient Wealth Partners LLC bought a new position in shares of Axon Enterprise during the 1st quarter worth $438,000. CX Institutional bought a new position in shares of Axon Enterprise during the 1st quarter worth $115,000. GAMMA Investing LLC grew its stake in Axon Enterprise by 11.8% in the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock valued at $765,000 after buying an additional 154 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Axon Enterprise by 5.1% in the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock valued at $494,000 after buying an additional 46 shares in the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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.