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Axon Enterprise (AXON) Ascends But Remains Behind Market: Some Facts to Note
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In the latest trading session, Axon Enterprise (AXON - Free Report) closed at $424.69, marking a +2.32% move from the previous day. The stock's change was less than the S&P 500's daily gain of 2.91%. Meanwhile, the Dow gained 2.49%, and the Nasdaq, a tech-heavy index, added 3.83%.
Shares of the maker of stun guns and body cameras witnessed a loss of 27.44% over the previous month, trailing the performance of the Aerospace sector with its loss of 14.19%, and the S&P 500's loss of 7.64%.
The investment community will be paying close attention to the earnings performance of Axon Enterprise in its upcoming release. In that report, analysts expect Axon Enterprise to post earnings of $1.66 per share. This would mark year-over-year growth of 17.73%. Meanwhile, our latest consensus estimate is calling for revenue of $779.78 million, up 29.18% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $8.12 per share and a revenue of $3.57 billion, demonstrating changes of +18.54% and +28.31%, respectively, from the preceding 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Axon Enterprise is currently a Zacks Rank #3 (Hold).
In terms of valuation, Axon Enterprise is presently being traded at a Forward P/E ratio of 51.14. This indicates a premium in contrast to its industry's Forward P/E of 33.26.
One should further note that AXON currently holds a PEG ratio of 1.54. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense Equipment industry had an average PEG ratio of 2.3 as trading concluded yesterday.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 40% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Axon Enterprise (AXON) Ascends But Remains Behind Market: Some Facts to Note
In the latest trading session, Axon Enterprise (AXON - Free Report) closed at $424.69, marking a +2.32% move from the previous day. The stock's change was less than the S&P 500's daily gain of 2.91%. Meanwhile, the Dow gained 2.49%, and the Nasdaq, a tech-heavy index, added 3.83%.
Shares of the maker of stun guns and body cameras witnessed a loss of 27.44% over the previous month, trailing the performance of the Aerospace sector with its loss of 14.19%, and the S&P 500's loss of 7.64%.
The investment community will be paying close attention to the earnings performance of Axon Enterprise in its upcoming release. In that report, analysts expect Axon Enterprise to post earnings of $1.66 per share. This would mark year-over-year growth of 17.73%. Meanwhile, our latest consensus estimate is calling for revenue of $779.78 million, up 29.18% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $8.12 per share and a revenue of $3.57 billion, demonstrating changes of +18.54% and +28.31%, respectively, from the preceding 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Axon Enterprise is currently a Zacks Rank #3 (Hold).
In terms of valuation, Axon Enterprise is presently being traded at a Forward P/E ratio of 51.14. This indicates a premium in contrast to its industry's Forward P/E of 33.26.
One should further note that AXON currently holds a PEG ratio of 1.54. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense Equipment industry had an average PEG ratio of 2.3 as trading concluded yesterday.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 40% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.