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

Axon Enterprise (NASDAQ:AXON) posted its earnings results on Monday. The biotechnology company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.20, Briefing.com reports. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The company had revenue of $460.74 million during the quarter, compared to analysts’ expectations of $441.57 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. Axon Enterprise’s quarterly revenue was up 34.3% compared to the same quarter last year. Axon Enterprise updated its FY 2024 guidance to EPS.

Axon Enterprise Price Performance

Shares of AXON opened at $311.86 on Thursday. The stock has a 50 day simple moving average of $310.82 and a 200 day simple moving average of $267.44. Axon Enterprise has a 52-week low of $175.37 and a 52-week high of $329.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00. The firm has a market capitalization of $23.53 billion, a PE ratio of 135.59 and a beta of 0.91.

Analyst Ratings Changes

A number of research firms recently issued reports on AXON. JPMorgan Chase & Co. lifted their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. TheStreet lowered shares of Axon Enterprise from a “b” rating to a “c+” rating in a research report on Tuesday, February 27th. Argus initiated coverage on shares of Axon Enterprise in a report on Wednesday, March 13th. They issued a “buy” rating and a $380.00 price target for the company. StockNews.com downgraded Axon Enterprise from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Finally, William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average price target of $333.08.

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.