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Here's Why Axon Enterprise (AXON) Fell More Than Broader Market
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In the latest trading session, Axon Enterprise (AXON - Free Report) closed at $249.10, marking a -1% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.09%.
The maker of stun guns and body cameras's shares have seen an increase of 5.37% over the last month, not keeping up with the Industrial Products sector's gain of 5.41% and outstripping the S&P 500's gain of 3.5%.
Market participants will be closely following the financial results of Axon Enterprise in its upcoming release. The company's earnings per share (EPS) are projected to be $0.86, reflecting a 22.86% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $418.97 million, up 24.64% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Axon Enterprise. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 remained steady. Axon Enterprise is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Axon Enterprise is at present trading with a Forward P/E ratio of 60.6. This denotes a premium relative to the industry's average Forward P/E of 21.4.
The Security and Safety Services industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why Axon Enterprise (AXON) Fell More Than Broader Market
In the latest trading session, Axon Enterprise (AXON - Free Report) closed at $249.10, marking a -1% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, added 0.09%.
The maker of stun guns and body cameras's shares have seen an increase of 5.37% over the last month, not keeping up with the Industrial Products sector's gain of 5.41% and outstripping the S&P 500's gain of 3.5%.
Market participants will be closely following the financial results of Axon Enterprise in its upcoming release. The company's earnings per share (EPS) are projected to be $0.86, reflecting a 22.86% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $418.97 million, up 24.64% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Axon Enterprise. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 remained steady. Axon Enterprise is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Axon Enterprise is at present trading with a Forward P/E ratio of 60.6. This denotes a premium relative to the industry's average Forward P/E of 21.4.
The Security and Safety Services industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.