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Axon Enterprise (AXON) Suffers a Larger Drop Than the General Market: Key Insights
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Axon Enterprise (AXON - Free Report) ended the recent trading session at $499.39, demonstrating a -3.51% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 1.52%. Elsewhere, the Dow saw a downswing of 1.56%, while the tech-heavy Nasdaq depreciated by 1.78%.
The maker of stun guns and body cameras's shares have seen an increase of 19.13% over the last month, surpassing the Aerospace sector's gain of 2.64% and the S&P 500's loss of 2.25%.
Investors will be eagerly watching for the performance of Axon Enterprise in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.66, reflecting a 17.73% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $779.78 million, indicating a 29.18% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.12 per share and revenue of $3.57 billion, which would represent changes of +18.54% and +28.31%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.67% higher. Axon Enterprise is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Axon Enterprise is presently being traded at a Forward P/E ratio of 63.77. This indicates a premium in contrast to its industry's Forward P/E of 37.59.
We can additionally observe that AXON currently boasts a PEG ratio of 1.92. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.1 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Axon Enterprise (AXON) Suffers a Larger Drop Than the General Market: Key Insights
Axon Enterprise (AXON - Free Report) ended the recent trading session at $499.39, demonstrating a -3.51% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 1.52%. Elsewhere, the Dow saw a downswing of 1.56%, while the tech-heavy Nasdaq depreciated by 1.78%.
The maker of stun guns and body cameras's shares have seen an increase of 19.13% over the last month, surpassing the Aerospace sector's gain of 2.64% and the S&P 500's loss of 2.25%.
Investors will be eagerly watching for the performance of Axon Enterprise in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.66, reflecting a 17.73% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $779.78 million, indicating a 29.18% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.12 per share and revenue of $3.57 billion, which would represent changes of +18.54% and +28.31%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.67% higher. Axon Enterprise is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Axon Enterprise is presently being traded at a Forward P/E ratio of 63.77. This indicates a premium in contrast to its industry's Forward P/E of 37.59.
We can additionally observe that AXON currently boasts a PEG ratio of 1.92. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Aerospace - Defense Equipment stocks are, on average, holding a PEG ratio of 2.1 based on yesterday's closing prices.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.