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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 $204.57, demonstrating a -1.59% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 1.18%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
Shares of the maker of stun guns and body cameras have appreciated by 6.79% over the course of the past month, outperforming the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 3.35%.
Market participants will be closely following the financial results of Axon Enterprise in its upcoming release. The company plans to announce its earnings on November 7, 2023. It is anticipated that the company will report an EPS of $0.76, marking a 26.67% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $393.77 million, reflecting a 26.31% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.55 per share and a revenue of $1.52 billion, demonstrating changes of +62.1% and +28.02%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Axon Enterprise. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Axon Enterprise currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Axon Enterprise is currently trading at a Forward P/E ratio of 58.59. This indicates a premium in contrast to its industry's Forward P/E of 18.58.
The Security and Safety Services industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Suffers a Larger Drop Than the General Market: Key Insights
Axon Enterprise (AXON - Free Report) ended the recent trading session at $204.57, demonstrating a -1.59% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 1.18%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
Shares of the maker of stun guns and body cameras have appreciated by 6.79% over the course of the past month, outperforming the Industrial Products sector's loss of 6.04% and the S&P 500's loss of 3.35%.
Market participants will be closely following the financial results of Axon Enterprise in its upcoming release. The company plans to announce its earnings on November 7, 2023. It is anticipated that the company will report an EPS of $0.76, marking a 26.67% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $393.77 million, reflecting a 26.31% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $3.55 per share and a revenue of $1.52 billion, demonstrating changes of +62.1% and +28.02%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Axon Enterprise. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Axon Enterprise currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Axon Enterprise is currently trading at a Forward P/E ratio of 58.59. This indicates a premium in contrast to its industry's Forward P/E of 18.58.
The Security and Safety Services industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.