Earnings Growth & Price Strength Make Axon Enterprise (AXON) a Stock to Watch
If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
Why You Should Pay Attention to Axon Enterprise (AXON)
Headquartered in Scottsdale, AZ, Axon Enterprise, Inc. develops and manufactures weapons for selling to U.S. state and local governments, the U.S. federal government, international government customers and commercial enterprises. Focused on global public safety, Axon’s suite of products includes conducted energy devices, body-worn cameras, in-car cameras, cloud-hosted digital evidence management solutions, productivity software and real-time operations capabilities.
AXON was added to the Zacks Focus List on June 3, 2020 at $97.85 per share. Since then, shares have increased 162.48% to $256.84.
Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.31 to $3.86. AXON also boasts an average earnings surprise of 61.1%.
Additionally, Axon Enterprise's earnings are expected to grow 76.3% for the current fiscal year.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like AXON, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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Axon Enterprise, Inc (AXON) : Free Stock Analysis Report
