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Axon Enterprise (AXON) Stock Sinks As Market Gains: Here's Why
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Axon Enterprise (AXON - Free Report) closed at $554.39 in the latest trading session, marking a -0.34% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 0.31%.
The maker of stun guns and body cameras's stock has dropped by 18.61% in the past month, falling short of the Aerospace sector's gain of 1.09% and the S&P 500's loss of 7.69%.
The upcoming earnings release of Axon Enterprise will be of great interest to investors. The company's upcoming EPS is projected at $1.34, signifying a 16.52% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $587.76 million, indicating a 27.57% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.38 per share and a revenue of $2.61 billion, representing changes of +7.41% and +25.15%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 86.81% downward. Axon Enterprise presently features a Zacks Rank of #3 (Hold).
Investors should also note Axon Enterprise's current valuation metrics, including its Forward P/E ratio of 87.23. This represents a premium compared to its industry's average Forward P/E of 29.73.
We can additionally observe that AXON currently boasts a PEG ratio of 3.14. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Aerospace - Defense Equipment industry had an average PEG ratio of 2.45 as trading concluded yesterday.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Axon Enterprise (AXON) Stock Sinks As Market Gains: Here's Why
Axon Enterprise (AXON - Free Report) closed at $554.39 in the latest trading session, marking a -0.34% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.64%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 0.31%.
The maker of stun guns and body cameras's stock has dropped by 18.61% in the past month, falling short of the Aerospace sector's gain of 1.09% and the S&P 500's loss of 7.69%.
The upcoming earnings release of Axon Enterprise will be of great interest to investors. The company's upcoming EPS is projected at $1.34, signifying a 16.52% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $587.76 million, indicating a 27.57% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.38 per share and a revenue of $2.61 billion, representing changes of +7.41% and +25.15%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 86.81% downward. Axon Enterprise presently features a Zacks Rank of #3 (Hold).
Investors should also note Axon Enterprise's current valuation metrics, including its Forward P/E ratio of 87.23. This represents a premium compared to its industry's average Forward P/E of 29.73.
We can additionally observe that AXON currently boasts a PEG ratio of 3.14. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Aerospace - Defense Equipment industry had an average PEG ratio of 2.45 as trading concluded yesterday.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.