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Axon (AXON) Stock Jumps 5.6%: Will It Continue to Soar?
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Axon Enterprise (AXON - Free Report) shares ended the last trading session 5.6% higher at $137.87. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.1% gain over the past four weeks.
The stock gained primarily on continued strong demand for its latest generation devices, product innovations and a strong backlog level.
This maker of stun guns and body cameras is expected to post quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of -60.7%. Revenues are expected to be $276.99 million, up 19.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Axon, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXON going forward to see if this recent jump can turn into more strength down the road.
Axon is a member of the Zacks Security and Safety Services industry. One other stock in the same industry, VERRA MOBILITY CORP (VRRM - Free Report) , finished the last trading session 1% higher at $16.88. VRRM has returned 8.4% over the past month.
VERRA MOBILITY CORP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago EPS, this represents a change of -3.7%. VERRA MOBILITY CORP currently boasts a Zacks Rank of #2 (Buy).
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Axon (AXON) Stock Jumps 5.6%: Will It Continue to Soar?
Axon Enterprise (AXON - Free Report) shares ended the last trading session 5.6% higher at $137.87. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 15.1% gain over the past four weeks.
The stock gained primarily on continued strong demand for its latest generation devices, product innovations and a strong backlog level.
This maker of stun guns and body cameras is expected to post quarterly earnings of $0.46 per share in its upcoming report, which represents a year-over-year change of -60.7%. Revenues are expected to be $276.99 million, up 19.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Axon, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AXON going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Axon is a member of the Zacks Security and Safety Services industry. One other stock in the same industry, VERRA MOBILITY CORP (VRRM - Free Report) , finished the last trading session 1% higher at $16.88. VRRM has returned 8.4% over the past month.
VERRA MOBILITY CORP's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago EPS, this represents a change of -3.7%. VERRA MOBILITY CORP currently boasts a Zacks Rank of #2 (Buy).