Kyle Peterson, an analyst from Needham, reiterated the Buy rating on Axos Financial (AX – Research Report). The associated price target remains the same with $88.00.
Kyle Peterson has given his Buy rating due to a combination of factors that highlight Axos Financial’s strong performance and potential for growth. The company’s recent quarterly results exceeded market expectations, driven by a robust net interest margin, increased fee income, and reduced selling, general, and administrative expenses. These elements contributed to a successful quarter, showcasing the company’s operational efficiency and financial health.
Kyle Peterson also points out Axos Financial’s strategic decision to resume its share repurchase program amid market volatility, which has enhanced the internal rate of return on buybacks. This move returned $58.3 million to shareholders, reflecting the company’s commitment to shareholder value. Furthermore, with the stock trading at an attractive price-to-earnings ratio and optimistic future earnings estimates, Peterson views the investment as a favorable opportunity for small to mid-sized investors, reinforcing his Buy rating with a target price of $88.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AX in relation to earlier this year.