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Oppenheimer Sticks to Its Hold Rating for Axon Enterprise Inc (AAXN)


In a report released today, Andrew Uerkwitz from Oppenheimer maintained a Hold rating on Axon Enterprise Inc (NASDAQ: AAXN). The company’s shares closed on Friday at $62.67.

Uerkwitz commented:

“We attended the the weekend. In conjunction, Axon made three announcements: 1) a new CEW called a new body-worn camera: a new tier of the officer safety plan (OSP)—one that gives agencies a myriad of services including Axon Records, the company’s new RMS system. The two new products—both greatly improved from previous generations—will play a significant role in helping build share in RMS due to the new OSP pricing tier as management believes agencies will value a hardware- software ecosystem. We like Axon’s vision, but worry about valuation and timing. We see product transition and likely increased OpEx leading to near-term volatility.”

According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 22.5% and a 63.7% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Himax Technologies, Turtle Beach Corp, and Universal Display.

Axon Enterprise Inc has an analyst consensus of Moderate Buy, with a price target consensus of $73.40, representing a 17.1% upside. In a report issued on October 2, Northcoast Research also initiated coverage with a Hold rating on the stock.

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The company has a one-year high of $76.45 and a one-year low of $20.57. Currently, Axon Enterprise Inc has an average volume of 682.1K.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. Last month, Douglas Klint, the Corp. Secretary of AAXN sold 25,000 shares for a total of $1,745,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Axon Enterprise, Inc. engages in the development, manufacture, and sale of conducted electrical weapons for personal defense. It operates through the TASER Weapons and Software and Sensors segments. The TASER Weapons segment sells conducted electrical weapons, accessories, and other related products and services.