Axon Enterprise (AXON) Advances While Market Declines: Some Information for Investors
In the latest trading session, Axon Enterprise (AXON) closed at $257.47, marking a +0.19% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.32%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.2%.
Heading into today, shares of the maker of stun guns and body cameras had gained 5.23% over the past month, outpacing the Industrial Products sector's gain of 2.11% and the S&P 500's gain of 4.59% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Axon Enterprise in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.86, indicating a 22.86% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $418.97 million, up 24.64% from the prior-year quarter.
Any recent changes to analyst estimates for Axon Enterprise should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% lower. Right now, Axon Enterprise possesses a Zacks Rank of #4 (Sell).
With respect to valuation, Axon Enterprise is currently being traded at a Forward P/E ratio of 62.04. Its industry sports an average Forward P/E of 21.49, so one might conclude that Axon Enterprise is trading at a premium comparatively.
The Security and Safety Services industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 115, this industry ranks in the top 46% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AXON in the coming trading sessions, be sure to utilize Zacks.com.
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Axon Enterprise, Inc (AXON) : Free Stock Analysis Report
