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Axon Enterprise (AXON) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Axon Enterprise (AXON - Free Report) closed at $442.31, marking a -9.77% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.78%.
Prior to today's trading, shares of the maker of stun guns and body cameras had lost 18.89% lagged the Aerospace sector's loss of 13.87% and the S&P 500's loss of 1.99%.
Investors will be eagerly watching for the performance of Axon Enterprise in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.94, marking a 65.81% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $935.35 million, indicating a 31.62% increase compared to the same quarter of the previous year.
AXON's full-year Zacks Consensus Estimates are calling for earnings of $7.88 per share and revenue of $3.68 billion. These results would represent year-over-year changes of +15.04% and +32.42%, respectively.
It is also important to note the recent changes to analyst estimates for Axon Enterprise. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 3.67% higher. Axon Enterprise presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Axon Enterprise is currently exchanging hands at a Forward P/E ratio of 62.18. This valuation marks a premium compared to its industry average Forward P/E of 33.74.
Investors should also note that AXON has a PEG ratio of 2.48 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Aerospace - Defense Equipment industry stood at 2.21 at the close of the market yesterday.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Axon Enterprise (AXON) Dips More Than Broader Market: What You Should Know
In the latest trading session, Axon Enterprise (AXON - Free Report) closed at $442.31, marking a -9.77% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.78%.
Prior to today's trading, shares of the maker of stun guns and body cameras had lost 18.89% lagged the Aerospace sector's loss of 13.87% and the S&P 500's loss of 1.99%.
Investors will be eagerly watching for the performance of Axon Enterprise in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.94, marking a 65.81% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $935.35 million, indicating a 31.62% increase compared to the same quarter of the previous year.
AXON's full-year Zacks Consensus Estimates are calling for earnings of $7.88 per share and revenue of $3.68 billion. These results would represent year-over-year changes of +15.04% and +32.42%, respectively.
It is also important to note the recent changes to analyst estimates for Axon Enterprise. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 3.67% higher. Axon Enterprise presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Axon Enterprise is currently exchanging hands at a Forward P/E ratio of 62.18. This valuation marks a premium compared to its industry average Forward P/E of 33.74.
Investors should also note that AXON has a PEG ratio of 2.48 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Aerospace - Defense Equipment industry stood at 2.21 at the close of the market yesterday.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.