Axon Enterprise (NASDAQ:AXON) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Axon Enterprise (NASDAQ:AXON - Get Free Report) released its quarterly earnings results on Monday. The biotechnology company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.20, Briefing.com reports. The firm had revenue of $460.74 million for the quarter, compared to analysts' expectations of $441.57 million. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The business's quarterly revenue was up 34.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Axon Enterprise updated its FY 2024 guidance to EPS.

Axon Enterprise Trading Down 4.6 %

AXON stock traded down $14.91 during trading on Tuesday, hitting $312.73. 1,021,233 shares of the company traded hands, compared to its average volume of 477,590. The company has a 50-day moving average of $309.95 and a 200-day moving average of $266.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00. Axon Enterprise has a 1 year low of $175.37 and a 1 year high of $329.87. The firm has a market capitalization of $23.60 billion, a PE ratio of 134.54 and a beta of 0.91.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AXON shares. Robert W. Baird lifted their price target on Axon Enterprise from $260.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, February 22nd. Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Axon Enterprise in a report on Tuesday. Argus initiated coverage on shares of Axon Enterprise in a report on Wednesday, March 13th. They set a "buy" rating and a $380.00 price objective for the company. The Goldman Sachs Group increased their target price on Axon Enterprise from $297.00 to $339.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Finally, TheStreet lowered Axon Enterprise from a "b" rating to a "c+" rating in a research note on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average target price of $327.00.

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.