Axon Enterprise (AXON) Outpaces Stock Market Gains: What You Should Know
Axon Enterprise (AXON) closed at $254.10 in the latest trading session, marking a +1.43% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.88%. On the other hand, the Dow registered a gain of 0.54%, and the technology-centric Nasdaq increased by 1.35%.
The maker of stun guns and body cameras's shares have seen a decrease of 0.89% over the last month, surpassing the Industrial Products sector's loss of 1.95% and falling behind the S&P 500's gain of 0.64%.
The investment community will be paying close attention to the earnings performance of Axon Enterprise in its upcoming release. The company's earnings per share (EPS) are projected to be $0.86, reflecting a 22.86% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $418.97 million, indicating a 24.64% growth compared to the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Axon Enterprise. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.4% fall in the Zacks Consensus EPS estimate. Right now, Axon Enterprise possesses a Zacks Rank of #4 (Sell).
Digging into valuation, Axon Enterprise currently has a Forward P/E ratio of 60.48. This signifies a premium in comparison to the average Forward P/E of 20.88 for its industry.
The Security and Safety Services industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 155, placing it within the bottom 39% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Axon Enterprise, Inc (AXON) : Free Stock Analysis Report
