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Axon Enterprise (AXON) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Axon Enterprise (AXON - Free Report) standing at $313.30, reflecting a +1.64% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.35%.
Shares of the maker of stun guns and body cameras have depreciated by 1.49% over the course of the past month, outperforming the Industrial Products sector's loss of 2.63% and the S&P 500's loss of 2%.
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 May 6, 2024. In that report, analysts expect Axon Enterprise to post earnings of $0.97 per share. This would mark year-over-year growth of 10.23%. Meanwhile, the latest consensus estimate predicts the revenue to be $437.52 million, indicating a 27.54% increase compared to the same quarter of the previous year.
AXON's full-year Zacks Consensus Estimates are calling for earnings of $4.49 per share and revenue of $1.93 billion. These results would represent year-over-year changes of +8.45% and +23.59%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Axon Enterprise. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.41% upward. Currently, Axon Enterprise is carrying a Zacks Rank of #3 (Hold).
Investors should also note Axon Enterprise's current valuation metrics, including its Forward P/E ratio of 68.62. For comparison, its industry has an average Forward P/E of 20.89, which means Axon Enterprise is trading at a premium to the group.
The Security and Safety Services industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Axon Enterprise (AXON) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Axon Enterprise (AXON - Free Report) standing at $313.30, reflecting a +1.64% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.35%.
Shares of the maker of stun guns and body cameras have depreciated by 1.49% over the course of the past month, outperforming the Industrial Products sector's loss of 2.63% and the S&P 500's loss of 2%.
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 May 6, 2024. In that report, analysts expect Axon Enterprise to post earnings of $0.97 per share. This would mark year-over-year growth of 10.23%. Meanwhile, the latest consensus estimate predicts the revenue to be $437.52 million, indicating a 27.54% increase compared to the same quarter of the previous year.
AXON's full-year Zacks Consensus Estimates are calling for earnings of $4.49 per share and revenue of $1.93 billion. These results would represent year-over-year changes of +8.45% and +23.59%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Axon Enterprise. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.41% upward. Currently, Axon Enterprise is carrying a Zacks Rank of #3 (Hold).
Investors should also note Axon Enterprise's current valuation metrics, including its Forward P/E ratio of 68.62. For comparison, its industry has an average Forward P/E of 20.89, which means Axon Enterprise is trading at a premium to the group.
The Security and Safety Services industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 70, positioning it in the top 28% of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.