Oppenheimer analyst Andrew Uerkwitz maintained a Hold rating on Axon Enterprise Inc (NASDAQ: AAXN) yesterday. The company’s shares closed yesterday at $62.31.
Uerkwitz commented:
“Last week, Axon Enterprises reported a largely in-line (or slightly better) June quarterly results. However, full year guidance was maintained which implies a slowdown in growth in the second half. The stock is trading off 21% since the all- time high on July 23rd (vs. NASDAQ down 0.3%). This note summarizes our updated thesis. We firmly believe there is a compelling long term story—Axon is building a software service centered on an evidence management system that, combined with an ever-growing hardware ecosystem, should make Axon the eventual leader in police agency IT. However, we anticipate higher than expected investment and slower than Street-expected adoption rates, which may suppress near-term investor sentiment. We are updating our estimates accordingly. Maintain Perform.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 14.8% and a 62.4% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Himax Technologies, Turtle Beach Corp, and Universal Display.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Axon Enterprise Inc with a $71.29 average price target, representing a 14.4% upside. In a report issued on August 8, Craig-Hallum also downgraded the stock to Hold.
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Axon Enterprise Inc’s market cap is currently $3.63B and has a P/E ratio of 173.08. The company has a Price to Book ratio of 8.09.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2018, Richard Carmona, a Director at AAXN bought 13,870 shares for a total of $100,003.
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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.
