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Axon Enterprise (AXON) Gains As Market Dips: What You Should Know
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Axon Enterprise (AXON - Free Report) closed at $220.22 in the latest trading session, marking a +1.95% move from the prior day. This move outpaced the S&P 500's daily loss of 1.16%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 7.95%.
Heading into today, shares of the maker of stun guns and body cameras had lost 5.01% over the past month, lagging the Industrial Products sector's loss of 2.14% and the S&P 500's gain of 1.53% in that time.
Axon Enterprise will be looking to display strength as it nears its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Axon Enterprise to post earnings of $0.46 per share. This would mark year-over-year growth of 2.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $312.07 million, up 21.7% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.77 per share and revenue of $1.43 billion. These totals would mark changes of +26.48% and +19.95%, respectively, from last year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Axon Enterprise is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Axon Enterprise currently has a Forward P/E ratio of 77.91. This valuation marks a premium compared to its industry's average Forward P/E of 21.25.
The Security and Safety Services industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Axon Enterprise (AXON) Gains As Market Dips: What You Should Know
Axon Enterprise (AXON - Free Report) closed at $220.22 in the latest trading session, marking a +1.95% move from the prior day. This move outpaced the S&P 500's daily loss of 1.16%. At the same time, the Dow lost 1.08%, and the tech-heavy Nasdaq lost 7.95%.
Heading into today, shares of the maker of stun guns and body cameras had lost 5.01% over the past month, lagging the Industrial Products sector's loss of 2.14% and the S&P 500's gain of 1.53% in that time.
Axon Enterprise will be looking to display strength as it nears its next earnings release, which is expected to be May 9, 2023. In that report, analysts expect Axon Enterprise to post earnings of $0.46 per share. This would mark year-over-year growth of 2.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $312.07 million, up 21.7% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.77 per share and revenue of $1.43 billion. These totals would mark changes of +26.48% and +19.95%, respectively, from last year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Axon Enterprise is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Axon Enterprise currently has a Forward P/E ratio of 77.91. This valuation marks a premium compared to its industry's average Forward P/E of 21.25.
The Security and Safety Services industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.