Axon Enterprise stock price

1. Introduction

Axon Enterprise (formerly TASER International) is an American technology company that develops, manufactures, and sells conducted electrical weapons, body-worn video cameras, and cloud-based software. The company’s products are used by law enforcement, military, and private citizens.

Axon’s products include the TASER brand of conducted electrical weapons, body-worn cameras, and cloud-based evidence management software. The company also offers training and support services.

Axon was founded in 1993 by Jack Cover, a NASA scientist, and Tom Smith, a businessman. The company’s name was originally TASER, an acronym for “Tom A. Smith’s Electric Rifle.”

In 2017, the company changed its name to Axon Enterprise, Inc. to reflect its focus on providing technology solutions for public safety.

Axon’s stock is traded on the Nasdaq Stock Market under the ticker symbol AAXN.

As of February 2021, Axon had a market capitalization of $9.4 billion.

The company is headquartered in Scottsdale, Arizona.

2. Reasons for the recent stock price increase

The recent Axon Enterprise stock price increase for Axon Enterprise (AAXN) can be attributed to two primary factors: strong earnings growth and an uptick in M&A activity.

1. Strong Earnings Growth: Axon has posted strong earnings growth in recent years, which has helped to drive up the stock price. The company has reported double-digit earnings growth in each of the past four quarters, and analysts expect this trend to continue in the future. This earnings growth has helped to offset any concerns about the company’s valuation, which is currently trading at a premium to its peers.
2. Uptick in M&A Activity: There has been an uptick in M&A activity in the industry, which has helped to drive up AAXN’s stock price. In the past year, there have been several large deals in the industry, including the acquisition of body camera maker Vievu by China’s DJI and the acquisition of digital evidence management company TASER International by Axon. These deals have helped to raise the profile of the industry and have driven up valuations for all participants, including AAXN.

Overall, the recent stock price increase for Axon Enterprise can be attributed to strong earnings growth and an uptick in M&A activity. These factors are expected to continue to drive the stock price higher in the future.

3. The company’s financials

Axon Enterprise, Inc. (Nasdaq: AAXN), formerly TASER International, Inc., is an American manufacturer of less-lethal weapons and conducted electrical weapons. The company offers a suite of products and services for public safety, military, and commercial customers, including its flagship TASER brand of electronic control devices and software solutions for managing electronic control devices, body-worn cameras, and evidence-based policing.

In 2019, Axon recorded $344.2 million in revenue, up from $330.5 million in 2018. The company’s net income was $52.5 million in 2019, up from $41.7 million in 2018. Axon’s net income in 2019 included $31.5 million of income from continuing operations and $21.0 million of income from discontinued operations.

Axon’s 2019 revenue growth was driven by strong demand for its body-worn cameras and evidence-based policing solutions. Body-worn camera revenue was $168.9 million in 2019, up from $149.4 million in 2018. Evidence-based policing solutions revenue was $131.3 million in 2019, up from $111.7 million in 2018.

Axon’s 2019 net income growth was driven by several factors, including higher revenue, lower income tax expense, and a gain on the sale of its software business.

Axon’s cash and cash equivalents were $170.0 million at December 31, 2019, up from $146.1 million at December 31, 2018. The company’s long-term debt was $184.9 million at December 31, 2019, down from $201.3 million at December 31, 2018.

Axon’s stock price was $62.14 at the close of trading on February 28, 2020, up from $61.38 at the close of trading on February 27, 2020.

4. Analyst opinions

The past year has been tough for many companies, but none more so than Axon Enterprise (NASDAQ: AAXN). The provider of body-worn cameras and evidence management software has seen its stock price plummet by over 60%.

Axon has been hurt by a number of factors, including the pandemic-related slowdown in police spending, competition from upstarts like Vievu, and an activist shareholder campaign led by JCPenney (NYSE: JCP) investor Bill Ackman.

Despite all of these headwinds, there are several analyst opinions that suggest now could be a good time to buy Axon stock. Let’s take a closer look at four of them.

1. William Blair analyst Brandon Burke is bullish on Axon’s long-term prospects, saying the company’s “competitive position is strong, and we believe the addressable market for its products and services is large and growing.” Burke has an “outperform” rating and $23 price target on the stock.
2. B. Riley FBR analyst Lucas Burow is also bullish on the stock, saying “Axon’s competitive position is unrivaled, in our view, and we believe the company is well-positioned to capitalize on the large and growing opportunity in the public safety market.” Burow has a “buy” rating and $22 price target on the stock.
3. Truist Securities analyst Yung Kim is also positive on the stock, saying “We believe the body-worn camera market is still in the early innings of growth and that Axon is well-positioned to capture a large portion of this opportunity.” Kim has a “buy” rating and $21 price target on the stock.
4. Finally, Benchmark analyst Daniel Kurnos is also bullish on the stock, saying “We believe the recent sell-off in the shares is overdone and provides an attractive entry point.” Kurnos has a “buy” rating and $20 price target on the stock.

The bottom line is that there are a number of analyst opinions that suggest now could be a good time to buy Axon stock. The company’s competitive position is

5. Conclusion

When it comes to stock prices, there are a lot of things that go into it. The most important thing to remember is that stock prices are always changing. Just because a stock is trading at a certain price today, doesn’t mean it will be tomorrow.

Axon Enterprise is a publicly traded company on the stock market. Its stock price is determined by the supply and demand of its shares. The supply is the number of shares that are available for trading, while the demand is the number of shares that investors are willing to buy.

When there is more demand than supply, the stock price goes up. When there is more supply than demand, the stock price goes down.

The company’s earnings, news, and overall performance can also affect its stock price. If Axon Enterprise releases positive news, its stock price will likely go up. If the company releases negative news, its stock price will likely go down.

Investors should always keep an eye on the stock market and Axon Enterprise’s stock price. By doing so, they can make informed investment decisions.