Axon Enterprise (AXON) Surpasses Market Returns: Some Facts Worth Knowing
Axon Enterprise (AXON) closed the latest trading day at $207.15, indicating a +1.3% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 1.05%. Meanwhile, the Dow gained 0.67%, and the Nasdaq, a tech-heavy index, added 1.64%.
The the stock of maker of stun guns and body cameras has risen by 6.47% in the past month, leading the Industrial Products sector's loss of 5.03% and the S&P 500's loss of 2.21%.
The investment community will be closely monitoring the performance of Axon Enterprise in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company is forecasted to report an EPS of $0.76, showcasing a 26.67% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $393.77 million, indicating a 26.31% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.55 per share and a revenue of $1.52 billion, signifying shifts of +62.1% and +28.02%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Axon Enterprise. These recent revisions tend to reflect the evolving nature of short-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 shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Axon Enterprise presently features a Zacks Rank of #2 (Buy).
In the context of valuation, Axon Enterprise is at present trading with a Forward P/E ratio of 57.63. This denotes a premium relative to the industry's average Forward P/E of 18.48.
The Security and Safety Services industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Axon Enterprise, Inc (AXON) : Free Stock Analysis Report
