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AAXN

Axon

$67.78

0.98 (1.47%)

16:03
08/07/18
08/07
16:03
08/07/18
16:03

Axon reaffirms FY18 revenue growth view 18%-20%

Sees FY18 adjusted EBITDA margins of 14%-16%, which compares with Adjusted EBITDA margin of 11.6% in 2017. This guidance aligns with our previously communicated outlook to achieve 300 to 400 basis points of operating margin expansion in 2018, excluding integration costs related to the VIEVU acquisition and the non-cash stock-based compensation expense associated with CEO Rick Smith's 10-year compensation plan. Going forward, we will be moving from operating margin to Adjusted EBITDA margin guidance, which provides a simpler and more relevant period-over-period comparison. Sees FY18 normalized tax rate of 20%-25%, which can fluctuate depending on geography of income and the effects of discrete items, including changes in our stock price; and Capital expenditures in the range of $12M-$16M.

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AAXN Axon
$67.78

0.98 (1.47%)

07/02/18
07/02/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Howard Hughes (HHC) initiated with a Buy at Jefferies. 2. Celyad (CYAD) initiated with a Buy at H.C. Wainwright. 3. Veoneer (VNE) initiated with a Sector Perform at RBC Capital. 4. Melinta Therapeutics (MLNT) initiated with an Overweight at Cantor Fitzgerald. 5. Axon (AAXN) initiated with an Overweight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
NEED
07/20/18
INITIATION
Target $80
NEED
Buy
Axon initiated with a Buy at Needham
Needham analyst Scott Berg initiated Axon with a Buy rating and a price target of $80. Berg says the company's "bull case is compelling" as it leverages a dominant end-market position in TASER weapons to stake out a leading position in body cameras while also expanding into "the massive yet greenfield digital evidence management software space." The analyst contends that given Axon's "multi-prong, multi-year growth opportunity that lacks a significant competitive threat", its FY18 is the start of "a multi-year phase of margin expansion".
07/20/18
07/20/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. OneMain Holdings (OMF) reinstated with an Equal Weight at Barclays. 2. Viking Therapeutics (VKTX) initiated with a Buy at SunTrust. 3. Semtech (SMTC) initiated with a Buy at Stifel. 4. Axon (AAXN) initiated with a Buy at Needham. 5. Sonoma Pharmaceuticals (SNOA) assumed with a Speculative Buy at Benchmark. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/06/18
DOTC
08/06/18
DOWNGRADE
DOTC
Neutral
Axon downgraded to Neutral from Buy at Dougherty

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